Woolworths subsidiary Entertainment UK is now officially closing after administrators of Deloitte announced that it had failed to secure a buyer to rescue the company.

"Despite our continued efforts,” said Deloitte partner Dan Butters “we have been unable to identify a suitable buyer for the business."

Deloitte has made 700 jobs redundant, as the group will now refocus on “realising value from the company's assets." Some 375 employees remain at the company, for now, to continue the firm’s wholesale distribution service.

Entertainment UK was very recently a successful UK distribution service. It provided games, CDs and DVDs to some 3,300 retail outlets in the UK. It is thought that the company was responsible for delivering up to 30% across Britain.