CES: Dish to close even more Blockbuster outletsby Steven Mostyn - Jan 13 2012, 16:55
Image: The Consumerist/Flickr.
In yet more evidence that Blockbuster’s days appear to be distinctly numbered, parent company Dish has announced plans to close even more walk-in stores than it previously forecast.
Dish purchased Blockbuster in July of 2011 for some $320 million USD and promptly said it would shutter around 10 percent of its bricks-and-mortar outlets in an attempt to restructure the struggling video chain.
Although that move was expected to leave around 1,500 stores and 15,000 employees untouched, Dish’s scrutiny of Blockbuster’s books shows that solution is clearly no longer viable.
“We are committed to keeping the profitable stores open that generating positive cash flow, but there are ones that aren’t going to make it,” said Dish Network chief Joe Clayton executive during a Reuters interview at the Consumer Electronics Show.
“We will close unprofitable stores. We will close additional stores,” he added, before also suggesting certain stores will be converted into Dish customer service outlets.
An official Dish spokesperson later said that all Blockbuster store closures are to be decided on a “case by case” basis.
Dish has not yet provided exact figures with regard to how many more stores and jobs will be culled, or where on the Blockbuster map those outlets are.