Blockbuster Said Likely to Close Over 500 Stores, Seek to Cut Lease Costs |
Bloomberg - Sep 23, 2010 |
Blockbuster Inc., the video retailer operating in bankruptcy, is likely to close more than 500 stores and will seek ways to reduce lease costs on hundreds of others, a person with knowledge of the plans said.
The actual number of stores is still being worked out following the Dallas-based company’s Chapter 11 filing today, said the person, who declined to be identified because the deliberations are private and subject to court approval.
Patty Sullivan, a spokeswoman for Blockbuster, didn’t immediately respond to an e-mailed request for comment after normal business hours. The Wall Street Journal reported the store closings earlier.
Read Full Article from Bloomberg
- Posted: 2010-09-23 20:37:11
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