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Blockbuster plans to part with 960 retail stores by end of 2010

Seriously, Blockbuster can't seem to get a break. In a recent SEC filing, the company identified 18 percent of its retail outlets it deemed unprofitable and announced plans to close up to 960 stores by the end of 2010. That's divided into up to 685 by the end of this year and the remaining 275 the year after, but the filing continues to say that up to 1,560 locations, or 22 percent of its total retail coverage, could end up falling the wayside. Another slide indicates how the company sees itself going forward, with an expansion of kiosks and its Total Access subscriber base, and putting OnDemand in "nearly every connected device." Of course, if this brings Blockbuster back to profitability as it expects to be, then more power to it, but it's clear that the one-time king is fighting wars on a number of sides and has a long way to go if it intends to stay afloat, much less reclaim its crown.


[Via CNET]

Sound Advice closing up shop, liquidating stores

Another one bites the proverbial dust. Hot on the heels of Tweeter zipping up its distribution centers comes word that the Florida-based Sound Advice will be throwing in the towel as well. Interestingly enough, we just heard hours ago that ripples from the Circuit City / Tweeter closings could affect upscale dealers, and here we are watching 22 boutique shops liquidate their current inventory and call it a done deal. About 50 employees stand to lose their jobs, but of course, those with an outlet around can take advantage of some killer deals right about now. Granted, this probably has quite a bit to do with the fact that Tweeter actually acquired Sound Advice in 2001 for $61 million, and generally speaking, children don't fare too well when their parents hit the skids.




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