DVD and video games rental chain Blockbuster UK has collapsed into administration, putting more than 4,000 jobs at risk and causing  panic amongst those who own commercial property let to this chain.

The entertainment retailer became the third major High Street casualty of 2013 after falling demand and online price wars saw photography retailer Jessops go bust last week, followed closely by entertainment stalwart HMV on Tuesday.

The demise of the three high profile retail chains in such a short space of time is a major body blow to the High Street which is already reeling from the administration of Blacks, La Senza, Clinton Cards, JJB Sports, Habitat and Comet last year.

Blockbuster UK, which first opened in 1989, has appointed Deloitte to seek a buyer for all or parts of the business just days after rival HMV hit the rocks.

This is yet another blow to not just the retail industry but also the commercial property market as landlords who own property let to Blockbuster will immediately see their income disappear.