300 Blockbuster Stores to Close, Affecting 3,000 Jobs
Dish Network says it plans to close about 300 Blockbuster stores across the country, affecting about 3,000 employees.
Company spokesman John Hall told The Denver Post on Monday that the closures will leave about 500 Blockbuster locations in the U.S. Blockbuster is owned by Dish Network.
Dish Network last year also shuttered about 500 underperforming Blockbuster locations. Hall said the stores that will be closed in coming weeks are either underperforming or nearing the end of their leases.
He said the 3,000 employees were informed about the latest closures on Friday. The store locations have not been announced.
Colorado-based Dish Network in March 2011 bought the then-bankrupt video rental chain for $320 million. It plans to move Blockbusters' headquarters from Texas to Colorado's Douglas County.