More Blockbuster Stores To Be Shut Down, Massive Job Cuts

Blockbuster closing stores

DENVER -- The video-rental chain Blockbuster plans to close about 300 stores across the country, losing about 3,000 employees. A company spokesman told The Denver Post on Monday that the closures will leave about 500 Blockbuster locations in the U.S. In 2011, the Dish Network bought then-bankrupt Blockbuster for $320 million.
Dish Network last year also shuttered about 500 underperforming Blockbuster locations. Spokesman John Hall says the stores that will be closed in coming weeks are either underperforming or nearing the end of their leases.

"We continue to see value in the Blockbuster brand and we will continue to analyze store level profitability and -- as we have in the past -- close unprofitable stores," said Hall in an email to CNNMoney.

The 3,000 employees were informed about the latest closures on Friday. The store locations have not been announced, though Dish says it plans to move Blockbuster's headquarters from Texas to Colorado's Douglas County.

Blockbuster, founded in 1985, used to be a dominant retailer, but in recent years, it has struggled as video-on-demand and video streaming services have become popular.

AOL Jobs contributed to this report.

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I have created my own 2 Terabyte video server with 500+ movies, who needs cable, Netflix or for that
matter Blockbuster ??? Make way for the dodo bird.....

January 24 2013 at 10:20 PM Report abuse rate up rate down Reply

I quit using BB when they closed ten minutes early when I was trying to return some movies. The clerk inside looked at me through the door and said it was too late. He pointed to the clock and shook his head. I ended up paying a late fee the next day and never went back again. Neither one of us had a watch on but the car clock and the radio program both determined the time for me.

January 23 2013 at 4:29 PM Report abuse rate up rate down Reply
Neal Plotkin

All of the closed stores are re-opening as TV repair shops...

January 23 2013 at 2:44 PM Report abuse rate up rate down Reply

I never understood Blockbusters pricing plan. They charged almost $5.00 for a DVD. The DVD MSRP was under thirty dollars. Blockbuster had some deal with the major studios to get the titles for under five dollars a title in bulk, and how much did they charge for rental or late fees? A lot more than the DVD was actually worth. Greed, I tells ya. Greed.
The Kiosk was a bomb in the making. new relases were three dollars.Titles that were a few months old were two dollars, and general relases (over six months) were 1.00. And of course the DVD was always scratched due to the DVD container.

January 23 2013 at 2:04 PM Report abuse rate up rate down Reply

I knew there would be an idiot who blamed Bush. The libs. never fail to throw "Bush" out there as the cause of everything bad!

January 23 2013 at 1:51 PM Report abuse rate up rate down Reply

Progress in the field has passed them by. Happens all the time. Not a political thing, just business moving forward.

January 23 2013 at 1:27 PM Report abuse rate up rate down Reply

people who say its obama's fault for the closing blockbuster stores are really stupid they have been closing store since 2004 even before that they cant compete with netflix and redbox (only a few left tho) there late fees and never get movies right away is what done them in netflix doesnt have late fees and always has the movie as soon as its released so get your heads out of your ass and stop listening to the republicans who try to make scandels out stuff that is childish like with clinton's meeting to day with johnson the republican party is declining and they know they have nothing to do

January 23 2013 at 1:13 PM Report abuse rate up rate down Reply
1 reply to scottdrevil's comment

netflix is not doing as well as you think. bb gets movies first then months to years later they show up on netflix. not to mention dish network gets it at the same time since they own bb.

January 23 2013 at 3:26 PM Report abuse rate up rate down Reply

It was the mis 1980's I was living outside of philadelphia, my friend had opened a video rental store,, added a pizza oven and had a growning business, 2 years later he had to close due to a blockbuster store opening a block away. he lost everything.

I have no sympathy for blockbuster, thousands of small video rental stores were driven out of business by this mega giant......

January 23 2013 at 12:47 PM Report abuse rate up rate down Reply

What a shock! I was just gonna go down to my local Blockbuster tonight and see what slasher films I could get,,then I remembered that its not 2004 anymore! And there havent been any BB stores around since The Bush administraton-first term!

January 23 2013 at 12:35 PM Report abuse rate up rate down Reply

Thank you, Mr. President!

January 23 2013 at 12:33 PM Report abuse rate up rate down Reply
2 replies to Sam's comment

Are you really that stupid you think blockbuster is having trouble because of Obama?

January 23 2013 at 12:57 PM Report abuse rate up rate down Reply

how ignorant are you that you blame the pres.? im guessing PRETTY DAMN IGNORANT.

January 23 2013 at 3:27 PM Report abuse rate up rate down Reply

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