Dish Network To Close Down 300 Blockbuster Stores
Dish Network Corporation will be closing down 300 Blockbuster stores in the United States in the next few weeks and may lay off as many as 3,000 employees. Dish is trying to find a way for Blockbuster to cut costs ever since they acquired them. This could affect as many as 3,000 employees, which is around 40% of the company’s 7,300 person workforce.
“We continue to see value in the Blockbuster brand and we will continue to analyze store-level profitability and, as we have in the past, close unprofitable stores,” stated Dish.
Dish acquired Blockbuster when they went bankrupt in 2010. Some of the 300 stores that will be shut down are hitting the end of their leases. Blockbuster currently has around 800 stores across the country.
[Source: Reuters]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry