THUNDER BAY – Across Canada, 140 Blockbuster Canada stores will be closed. However the locations in Thunder Bay are not on the list of stores slated to close.
Over the past weeks, as receiver Grant Thorton has moved into control of the company, it is moving to consolidate the company’s operations in order to sell the company to a new owner.
“While the need to consolidate stores is unfortunate, we are pleased with the level of interest in Blockbuster Canada Co.’s operations expressed by potential purchasers to date,” stated Michael Creber on behalf of Grant Thornton Limited. While a majority of Blockbuster Canada Co.’s stores are continuing to operate during such process, certain stores will be closed over the next few weeks.
On May 20, 2011, the Ontario Superior Court of Justice authorized Grant Thornton Limited, the Receiver of Blockbuster Canada Co., to initiate a process to identify parties interested in purchasing Blockbuster Canada Co.’s assets and operations.