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Blockbuster Closing Up to 960 Stores By End of 2010

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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