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Post Info TOPIC: Blockbuster may close as many as 960 US stores
barney


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Blockbuster may close as many as 960 US stores
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Blockbuster Inc. may close as many as 960 stores by the end of next year, shedding more dead weight as the struggling video rental chain tries to reverse its losses and fend off rapidly growing rivals Netflix Inc. and Redbox.

The cuts outlined in documents filed Tuesday would leave Blockbuster with about 20 percent fewer U.S. stores. The previously confidential documents didn't identify the locations of the endangered stores.

Blockbuster hasn't made any final decisions on the possible store closures, Chief Executive James Keyes said in an interview Tuesday.

Keyes described the closures as something that Blockbuster is considering as it sets up more DVD-rental kiosks in the stores of other merchants. It's a concept that has been popularized by Coinstar Inc.'s Redbox.

By the middle of next year, Blockbuster hopes to have 10,000 kiosks scattered around the country. It had just 500 kiosks at the end of August.


Blockbuster may close as many as 960 US stores

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