Blockbuster is putting more of its stores on the chopping block.
In a regulatory filing today, the struggling video-store chain with nearly two dozen Triangle locations, reported that it may close 960 stores by the end of next year.
The Dallas-based chain operates about 3,650 company owned stores and franchisees run more than 600. Blockbuster wrote that 18 percent of its stores are unprofitable.
The company will seek to get better lease terms for another 275 to 300 stores or will consider closing those, too.
Blockbuster has said it plans to close about 300 stores this year. The company is adding more rental kiosks and relying more on its online-rental store as it tries to compete with NetFlix and Redbox.
Blockbuster recently closed two stores in Raleigh, at Cameron Village and on Six Forks Road.
As more retailers shut stores during the recession, it creates headaches for landlords that must refill their empty spaces.
But as Sue Stock reports on our sister blog, Taking Stock, the Blockbuster on Six Forks in Raleigh will soon become a Jimmy John's sandwich shop.
Assistant Business Editor Alan M. Wolf joined the N&O in 1999 covering the business of health care. He became an editor in 2001, and helps oversee the paper's daily business coverage and Sunday Work&Money section. He lives in Clayton with his wife and two children. Reach him at 919-829-4572 or 
Comments
blockbuster is still in business?
Tue, 09/15/2009 - 23:50 — canesr0ckancient business plan.
Couldn't Happen to a Nicer Company!
Tue, 09/15/2009 - 20:02 — IndieSpinEver since sleazeball Wayne Huizenga bought into Blockbuster, this company has shafted people. Soon to be nothing more than a footnote in history.
You know, I reactivated my
Tue, 09/15/2009 - 18:11 — jugbandYou know, I reactivated my blockbuster account when they started sending videos through the mail and stopped charging late fees. Then one day, I go to return a video and found that I had a 10 dollar fee because they decided to start charging late fees again. I immediately reactivated my netflix account. If you can't compete, then you'll go out of business. Blockbuster is a dinosaur.
Blockbuster losing stores. FINALLY!! Yippy!!
Tue, 09/15/2009 - 17:34 — tyger007123I am THRILLED that this lousy, rude, obnoxious company is getting what they deserve. They have treated their customers like garbage for years, over charged customer's credit cards for NO reason, sometimes lying by saying it :wasn't returned" and then when you want to speak with someoen they coudl care less. Anyone who goes there for any reason is a fool. BOYCOTT BLOCKBUSTER befor ethey steal money from your credit card too! I know 5 people, including me it happened to so I KNOW this is a pattern of theirs. Go to Redbox.com or Redbox to get movies for only $1.00 - they have them all over and they appreciate our business. BLOCKBUSTER STINKS...I once was given a gift card from someone to go there and threw it out in the garbage instead of using it.