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Old 05-27-2011, 03:00 PM   #1 (permalink)
jeffb
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Thumbs down So long Blockbuster

Quote:
Clearance sales were underway Friday at many of the 146 Canadian Blockbuster Video stores that are closing their doors.

The movie and video game rental chain announced May 24 that the closures would take place next month.

In one store in Toronto, a manager said more than a dozen customers were hunting for bargains shortly after the store opened, but none of them had lined up to get there early.

The shutdown will mean about 1,400 employees could lose their jobs.

Ontario will be most affected, but every province will lose at least one outlet.

Blockbuster Canada is being sold off to pay $70 million US in debt owed by its former U.S. parent, after the Canadian division served as a guarantor for the American business. The U.S. company went into bankruptcy protection and was later sold at auction to another owner.
Closing Blockbuster stores clear stock - Business - CBC News
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