Blockbuster Set to Close an Additional 300 Stores
Following the increasing trend of online video services, Blockbuster has announced that they will be closing an additional 300 U.S. stores in 2013.
DISH Network spokesman John Hall made the announcement on the company's downsizing today, proving 2012 was not the year for Blockbuster to make its triumphant return.
"Some of the approximately 300 stores are reaching the end of their lease and others are closing based on overall performance," he said.
Those 300 stores represent approximately 35% of Blockbuster storefronts still remaining in the U.S. The closings will leave around 500 stores still open - in 2011, DISH shuttered that same number.
Moving forward, DISH "will continue to analyze store level profitability and - as we have in the past - close unprofitable stores," Hall said.
Blockbuster has been viewed as a floundering corporation since April 2011, when DISH paid $238M to raise it out of bankruptcy. But it's not only struggling in America.
Just last week, Blockbuster in the UK was put into 'administration.' The American equivalent of bankruptcy.
DISH brings the latest home entertainment technology to more than 14 million subscribers, including the Hopper Whole-Home HD DVR that lets consumers control the home viewing experience. Beyond the living room, DISH helps viewers take TV anywhere and provides broadband through dishNET Internet.