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Blockbuster Closing Up to 960 Stores By End of 2010

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CityBiz real estate makes a great catch in an 8K filing by Blockbuster Inc. today. The company is planning on closing a boatload of stores between now and the end of 2010.

Here are the grisly details:

  • 2009 Normal Closures -- 280-300
  • 2009 Accelerated Closures -- 300-385
  • 2010 Normal Closures -- 100-125
  • 2010 Accelerated Closures -- 130-150
  • Stores w/additional lease mitigation/termination efforts -- 275-300
  • Stores that may be converted to outlets -- 250-300
  • Total store closures and other actions -- 1,335-1,560

Numbers updated below to reflect this announcement, but only including the 2009 closures.

Bankruptcies and Liquidations:

Potential Bankruptcies & Liquidation Impact: 1,541 confirmed closures out of about 3,385 stores

Announced Closings

Total Closings: up to 2,439 U.S. stores

Potential Impact of All Announcements to Date: 3,980 closures out of up to 5,824 potentially affected U.S. stores

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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