Blockbuster to Operate More Than 1,500 Stores
MCKINNEY, Texas, July 21, 2011 /PRNewswire/ — Blockbuster L.L.C. announced today it has assumed contracts with property owners nationwide and will maintain operations of more than 1,500 U.S. Blockbuster stores that would have closed under liquidation, as approved in a New York bankruptcy court this week. Blockbuster also will retain more than 15,000 store employees.
“We’re pleased that we will continue to operate more than 90 percent of the stores that were offered at auction in April,” said Michael Kelly, president of Blockbuster. “By lowering pricing and offering competitive summer promotions, we’ve brought millions of customers back into Blockbuster stores in the last three months to experience the best in convenience, choice and value. Today, more than 100 million people live near a Blockbuster store.”
“Unfortunately, despite our efforts to reach reasonable terms, some property owners have closed stores,” Kelly added. “However, we’ll continue to look for opportunities for physical distribution in these neighborhoods as we expand our in-store experience, unmatched for movies and family entertainment.”
Blockbuster recently rolled out an improved Blockbuster Total Access package, which provides benefits NetflixÃ‚® doesn’t offer: availability of many new releases 28 days before Netflix; unlimited in-store exchanges; games for XBOX 360Ã‚®, Playstation3(TM), and Nintendo Wii(TM), and no additional charge for Blu-ray(TM) movies.
On April 26, substantially all of the assets of Blockbuster, Inc., were sold to DISH Network Corporation (NASDAQ: DISH) in a bankruptcy auction, averting any sale to liquidators.
Follow Blockbuster on Twitter (http://twitter.com/blockbuster) and Facebook (http://facebook.com/blockbusterinc) for exciting deals or visit www.blockbuster.com/helloblockbuster to make the switch to Blockbuster Total Access
Blockbuster L.L.C., a subsidiary of DISH Network Corporation (NASDAQ: DISH), is a leading global provider of movie and game rentals and is synonymous with family entertainment. The company provides customers with convenient access to media entertainment anywhere, any way – whether in-store, by-mail, or digitally to homes and mobile devices. With a highly recognized brand and a library of more than 100,000 movies, TV shows and game titles, Blockbuster’s multichannel presence serves millions of customers around the world annually. Visit www.blockbuster.com.
SOURCE Blockbuster L.L.C.