If you thought losing Comet, Jessop’s and more than likely HMV was the end of the terrible news for the retail industry in the UK, then we’re afraid that you would be wrong. We say this because news has just broke that Blockbuster UK has just entered administration, which means that more than 4,190 people could lose their jobs.

Blockbuster currently has 528 stores in the UK and Deloitte, the administrator dealing with HMV, has also been appointed to manage the collapse of the DVD retail chain. We’re not surprised by this news because we don’t know many people who still go to a store to rent movies because there is more demand for streaming movies these days.

Like HMV, Blockbuster is learning the hard way that how people purchase and view their content has changed over the years and has not been able to cope with that change as well as other companies. It’s hard to know if there is still a future for the two companies, although we have learned that there is some interest in the purchase of HMV, although there is no conclusive proof of this yet.

For now those with Blockbuster gift cards will be pleased to know that these are still being horned, unlike HMV then. The UK high street will never be the same again as we are losing some big players, we just wonder who’s next?

Since the news broke that HMV were in trouble and were awaiting the appointment of administrators there had been a blue cross sale in brick and mortar stores as well as online. However, now that they have been appointed we can now see that the HMV UK administration has got real becasue online ordering has now stopped.

The HMV online store was up and running yesterday so this change must have only happened this morning, which is a huge blow for the well-known brand, although we’re not that surprised. CVG has learned that future pre-orders are not available along with being able to redeem vouchers, as we explained yesterday.

While the future seems to look pretty bleak for HMV because there is a risk that 4,500 staff could lose their jobs, there has been some early interest according to the administrator, although they have declined to say from whom. The current blue cross sale will also continue, which is certain to generate enough revenue to keep the wolf from the door – for now anyway.

Many HMV customers believe that the company has ripped them off for years and that the appointment of administrators is no real surprise. However, there is still a future for the company but maybe for the online store instead of the high street stores, although there is the fear that after Deloitte’s unreasonable charges there will be nothing left of HMV to salvage.

We entered 2013 knowing that the high street would not be the same without Comet and just a couple of weeks into the New year Jessop’s had also collapsed. However, the biggest blow would have to be HMV going into administration because like Woolworths, it was more of an institution because of how long the store had been trading for.

It’s still not certain what will happen with HMV stores just yet, but for now customers in possession of store voucher have been told that they are no longer valid. That’s not all; stores are no longer accepting returned goods, although if they are faulty then you will be able to take those goods back to the store.

Because HMV is now in the hands of the administrators we will have to await what they will decide to do in regards to the process for voucher holders. However, if they look and find that the business is still healthy then customers could still be able to redeem those vouchers – so don’t go throwing them away just yet.

If the administrators are able to find a buyer then some of the stores could be saved, but it’s pretty obvious that not all stores will be saved. We know it’s horrible to think that you have vouchers that you are unable to spend, but just spare a thought for the 4,500 workers whose jobs are at risk.

Stores are still trading at this time and on the HMV website there is a blue cross sale going on, although there’s just 25 percent off at the moment. The Guardian has a Q&A in regards to the HMV saga, which should offer you all the answers you need until more is known.

It wouldn’t be the first time we’ve heard about Comet UK looking at administration, although the electronics retailer is now eyeing new problems right before Christmas 2012 that could mean thousands of jobs at Comet are in jeopardy. The UK retailer has over 240 stores and created over 6,000 jobs, but all of this is at risk if reports are correct about the company being close to administration.

We’ve included a video below this article that only runs for just over one minute, but it explains exactly what Comet’s problem is, which is basically due to the suppliers and the fact that Comet UK has been struggling to get supplier insurance. The news report seen in the video below explains this insurance issue could be the tipping point, which could also mean administration as soon as this week.

The amount of UK companies going bankrupt or into administration has been increasing, and this year we’ve seen the demise of Peacocks, Game Group, Clinton Cards, JJB Sports, and many more although some of these retailers have managed to keep their brands running to some extent.

We’ve also heard about PC World, Curry’s, and Dixons running into problems over the last couple of years, which would have obviously helped Comet UK if they’d failed although this hasn’t happened. Some of PR’s readers have pointed out that smaller shops seem to have a lot more product knowledge, which we can personally agree on considering the amount of times we’ve visited a large retail store and found some young staff, not all, lacking the information needed.

Do you want Comet UK to find a way to avoid administration, or do you mostly shop online instead? Take a look at the video below for a little more insight.

We had first assumed that this was a joke, but Surrounded Me has learned through sources that Orange County Choppers‘ has missed a number of mortgage payments, which is said to be for $96,400 and $14,000. The source explained that OCC did not make the payments, as they wanted to force the lender to make a few changes to the terms of the loan.

The reason why they want to make a few changes to the mortgage terms is because the building is not worth as much as it was back in 2007. It is no secret that the auto industry has had a tough few years, as has the housing market; it is for this reason why the headquarters is now worth $4 million to $5 million less than it once was.

Neither OCC nor lender GE Commercial Finance would make any official statement, but one would assume that this little blip in the road will go away. Orange County Choppers in a world brand now, so they would not risk anything to lose their building where things are not only built but run as well.

Jamie discussed a little about the rescue plan, but can these investors really pull it off? Blockbuster along with the new investors certainly have their work cut out, and will take more than just a few ideas to bring it back from near-death.

Caroline Humer from the Post Chronicle has reported that Goldin Associates MD, David Pauker said that Blockbuster has to find a new format and fast before their business is too far-gone to save.

Not certain how Blockbuster will be able to keep trading now that TV and Movie streaming is the way to go, with devices such as Apple TV, PS3, Xbox 360 and the upcoming Google TV all having the streaming solution. Blockbuster needs to be able to tie themselves with a big brand in order to compete with those who I mentioned above.

Do you think that Blockbuster can be saved?