POSTED: Wednesday, September 16, 2009 - 9:31am
UPDATED: Thursday, February 25, 2010 - 12:33pm
Your movie rental options may become slim as Blockbuster is planning to close almost 1,000 stores by the end of next year.
That would shrink the video rental chain by more than 20% as it struggles against stiff competition from Netflix and Redbox. Documents filed on Tuesday show Blockbuster is having to cut much deeper than it anticipated to save money and keep its lenders happy. The company expects to close between 810 and 960 of its U.S. stores through 2010. No word as of yet if stores in the Rio Grande Valley will be closing soon.