Not content to let its British cousin have a monopoly on all the bad news lately, U.S.-based Blockbuster LLC will be closing 300 more stores over the next several weeks. The closures will reduce BB’s U.S. footprint by 35 percent, leaving the Dish-owned chain with about 500 stores.
More than 3,000 employees will be affected by the store closures.
Dish spokesman John Hall said the following about his company’s ongoing evaluation of the Blockbuster brand:
“[Dish] continues to see value in the Blockbuster brand, and we continue to analyze the store-level profitability as we have in the past”From the time of acquisition there has been a strategy to evaluate stores on a case-by-case basis in an effort to look at their production.”
Is Dish regretting its purchase of an ailing Blockbuster in 2011, or are these additional closures a tough but necessary part of Dish’s turnaround plans for BB?