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In the next few weeks, Dish Network Corp plans to close approximately 300 underperforming Blockbuster stores, resulting in 3000 employees losing their jobs. After the closures, Blockbuster will be left with only 500 locations in the U.S., 26 in Colorado where it is headquartered.
A Denver Post article yesterday quoted Dish spokesman John Hall stating,
Dish "continues to see value in the Blockbuster brand, and we continue to analyze the store-level profitability as we have in the past."
The Englewood-based company acquired the video-rental chain out of bankruptcy in 2011 for $320 million. Last year, it shuttered 500 locations, even though Dish received up to $2.5 million from the Colorado Economic Development Commission for Job Growth Incentive Tax Credits for relocating from Texas to Colorado.