Dish to close 300 more Blockbuster stores

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Tuesday, January 22, 2013

PC Magazine: Brick-and-mortar Blockbuster retail stores have been disappearing for more than a decade now, but get ready to say goodbye to a few more. Dish Network this week announced that it will shutter another 300 locations.

Dish is expecting to close about 300 Blockbusters in the coming weeks, a company spokesman said, leaving 3,000 employees without a job.

The closures will affect underperforming stores or those nearing the end of their lease, though specific locations have not yet been announced. Only 500 U.S. Blockbuster stores will remain, 26 of which are near Dish's Colorado headquarters.

Dish hasn't given up on the once-popular video rental chain just yet, saying that "we continue to see value in the Blockbuster brand," which it acquired out of bankruptcy for $320 million in 2011. At the time, Blockbuster boasted 1,700 physical stores and a streaming service.

"While Blockbuster's business faces significant challenges, we look forward to working with its employees to re-establish Blockbuster's brand as a leader in video entertainment," Tom Cullen, executive vice president of sales, marketing, and programming for Dish, said in an April statement following the acquisition announcement.

 

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