Beleaguered DVD retailer Blockbuster will close a further 62 stores in the UK, with the loss of 427 jobs.

According to reports, administrators Moorfields Corporate Recovery has not found a buyer for the company, which first went into administration in January, and all remaining 91 stores will likely have to close with the potential loss of 808 jobs.

The most recent closures follow previous closure announcements in November. Currently owned by private equity firm Gordon Brothers Europe, the former high-street giant Blockbuster once had 528 stores.

Blockbuster is a one of a number of high street retailers to have been been hit hard by the success of online film and video game services.

Moorfields said high business rates also contributed to the video company’s demise.