Blockbuster said it will close about 300 of its U.S. stores in the coming weeks, thinning the once ubiquitous video rental chain’s bricks-and-mortar presence.
The closures will result in the loss of about 3,000 jobs and leave the company with about 500 stores in the nation, said John Hall, a spokesman for parent company Dish Network Corp. in Englewood, Colo.
Last week, Blockbuster’s British unit entered into administration, a version of bankruptcy, and said it would close 160 stores there, according to the administrator, accounting and consulting firm Deloitte.
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Say farewell to Blockbuster, the video chain that was once one of the biggest brand names in America.
The chain’s new owner, Dish Network (DISH +1.58%), has said it will close 500 under-performing Blockbuster locations with expiring leases, and it may close more beyond that. There were only about 1,500 Blockbuster stores left, so the announcement is one of the final nails in the coffin for the former video powerhouse.
Not that many people are complaining. Former Blockbuster customers still grumble about the chain’s strict return policies.
Remember the days when you raced to the store to get that movie back on time?
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