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Dish closing 300 Blockbuster stores, cuts 3,000 jobs

By Daniel S Levine,

Just as the British unit of Blockbuster crumbles, Dish Network said on Monday that it will close 300 stores in the U.S., a move that will cost 3,000 jobs.

The decision will leave the U.S. with 500 Blockbuster locations. Dish will be closing underperforming locations and others that are nearing the end of their lease.

Dish “continues to see value in the Blockbuster brand, and we continue to analyze the store-level profitability as we have in the past,” Dish spokesman John Hall told The Denver Post.

As The Los Angeles Times notes, Dish had saved Blockbuster when the company entered bankruptcy in 2011. The company announced plans to use the brand for its own streaming service similar to Netflix and Amazon Instant Video in the hope that it would help the stores.

Dish has also been posting losses, reportedly losing $158 million during the third fiscal quarter.

Just last week, the British blockbuster went under administration, the equivalent of bankruptcy in the U.K. An accountancy firm will now have to find a buyer for the brand.

 
 

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