Administrators confirmed the closure of 62 outlets, with 91 more also doomed if a buyer cannot be found.
Blockbuster had 264 stores and a 2000-strong workforce when it went into administration last month but these now look likely to have disappeared by the end of the year.
Administrators from Moorfields Corporate Recovery have already overseen the closure of more than 100 stores as part of the administration process.
Yesterday, they said no acceptable offers had been received for the remaining shops.
Blockbuster was rescued in March from an earlier administration by private equity group Gordon Brothers Europe, but has suffered poor trading across both rental and retail sales.