Blockbuster said it will close about 300 of its U.S. stores in the coming weeks, thinning the once ubiquitous video rental chain's bricks-and-mortar presence.
The closures will result in the loss of about 3,000 jobs and leave the company with about 500 stores in the nation, said John Hall, a spokesman for parent company Dish Network Corp. in Englewood, Colo.
Last week, Blockbuster's British unit entered into administration, a version of bankruptcy, and said it would close 160 stores there, according to the administrator, accounting and consulting firm Deloitte.
Dish, a nationwide satellite pay-TV provider, acquired Blockbuster and about 1,700 stores in a 2011 bankruptcy sale. It hoped to use the company's brand name and online streaming service to compete against the likes of Netflix and Redbox.