Tuesday, March 29, 2011

Blockbuster Poised to Shut Down Another 186 Stores in Bankruptcy

Blockbuster Inc. said in court filings that it will start the process of closing 186 additional stores by the end of the month, meaning more than a third of its U.S. brick-and-mortar locations have either closed or will be closed since it filed for bankruptcy protection last September, Dow Jones Daily Bankruptcy Review reported today. In court filings on Friday, Blockbuster said that it will reject the leases on 186 of its stores by March 31, which would bring the number of stores the company has closed or plans to close since filing for bankruptcy protection late last summer to 1,145, the company told Dow Jones. According to court papers, the company had just over 3,300 U.S. stores when it filed for bankruptcy protection.