Struggling Blockbuster plans to shut down an additional 182 unprofitable stores by early next year, 72 of them within the next two weeks, the Associated Press reported today (Tuesday), citing documents filed in Manhattan bankruptcy court last Friday. The Dallas-based company said that it is also attempting to renegotiate better terms on its leases at the remaining stores. It has already shut down more than 1,000 stores that have been hard hit by competition from online renters Netflix, kiosk operator RedBox, and cable companies' video-on-demand platforms. Blockbuster reported a net loss of $36.5 million between Sept. 23, when it filed for bankruptcy, and Oct. 31, including $12 million for reorganization costs.

21/12/2010