06/03/12: GA Europe appointed to manage stock liquidation of Blockbuster Italia stores
GA Europe, the leading restructuring specialist, has been appointed by the liquidator of Blockbuster Italia to liquidate stock in more than 100 of its stores.
GA Europe, whose appointment has been sanctioned by the Courts, will now work closely with the liquidator and the existing Blockbuster operations team to clear through stock in these stores.
This is GA Europe’s first project in Italy. It will conduct a controlled liquidation sale in order to clear over €13 million of stock for the maximum benefit of creditors.
Blockbuster Italia, which was not included in the April 2011 sale of Blockbuster Inc to DISH Network, had been loss making for some time. The business went into voluntary liquidation in June 2011 and attempts to find a buyer for the whole business proved unsuccessful. After the closure of the stores, its outlets will be taken on by other retailers or returned to landlords.