Denver Business Journal I Dish plans closure of 300 more Blockbuster stores

blockbuster-logoDish Network Corp., which owns the Blockbuster chain of video rental stores, plans to close an additional 300 locations over the next few weeks on top of hundreds closed previously, according to news reports Monday.

The Denver Post’s Howard Pankratz and Andy Vuong quote a spokesman for Douglas County-based Dish (Nasdaq: DISH) as saying that the further closures will leave some 500 Blockbuster locations open nationwide.

That’s the number of Blockbuster stores that Dish said in 2011 bankruptcy-court filings that it planned to leave open after taking over the troubled home-movie chain.

Blockbuster had some 1,700 stores open when satellite-TV company Dish acquired it out of bankruptcy in April 2011 in a deal worth about $320 million; the chain years ago had as many as 9,100 stores before it was battered by the wide availability of movies from Netflix, Amazon.com and others through digital, online and mail-order channels.

Read more: http://www.bizjournals.com/denver/news/2013/01/21/dish-plans-closure-of-300-more.html?ana=e_du_pap&s=article_du&ed=2013-01-22
Re-posted by: Crosbie Real Estate Group
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