News 300 U.S. Blockbuster Stores to Shut Down
posted on 2013-01-21 23:56 EST
Dish Network, the owner of the Blockbuster video rental franchise, will close 300 of its U.S. Blockbuster video rental stores. There are currently 850 stores still operating in the United States after waves of closures throughout the United States starting in 2011.
Dish filed for bankruptcy for the brand in the United Kingdom last week. The company initially paid US$238 million to get Blockbuster out of bankruptcy in 2011, but the company had a series of profit losses following the bailout.
Dish CEO Joe Clayton said in November that he hoped new marketing strategies and improved in-store displays would boost Blockbuster rentals in Q4, while spokesperson John Hall added that Dish still sees “value in the Blockbuster brand” but that Dish “will continue to analyze store level profitability and – as we have in the past – close unprofitable stores.”