DVD rental firm Blockbuster UK went into administration on Wednesday after struggling against online competitors. The chain has 528 stores and 4190 employees.
Deloitte, which will now take over the firm, said Blockbuster UK would keep trading while it tries to find a buyer.
The BBC reports the first Blockbuster store in Britain opened in south London in 1989. An online DVD rental operation was launched in 2002.
However, the online rental market is increasingly crowded with rival services and the popularity of streaming films over the internet is growing fast.
Blockbuster UK has closed more than 100 outlets in the past few years.
The BBC reports Blockbuster went bankrupt in the United States in 2011, but was rescued by Dish Network, a pay-TV company, for $US320 million. The British arm is also owned by Dish Network, but run separately.
Music chain HMV also went into administration on Monday.