More Blockbuster stores to close
Dish Network purchased floundering movie rental chain Blockbuster in 2011. Since the purchase, Dish Network to shut down a number of locations around the country. Dish has now announced that it will be closing 300 additional Blockbuster stores within the US.
The closure of the 300 locations will leave about 500 Blockbuster stores operating in the US. The stores being closed are either underperforming or are near the end of their leases. The closing of the 300 locations will mean about 3000 employees are out of work.
Blockbuster hasn't announced where the locations are the will be closed at this point, but the employees have been notified. Blockbuster continues to lose ground in the face of increasing competition from streaming video company such as Netflix and movie rental kiosks such as Redbox.