Blockbuster to shut 960 stores

Movie rental giant Blockbuster plans to close up to 960 stores by the end of next year, the company said. In a regulatory filing yesterday it said that along with the conversion of certain stores to bigger outlets, and lease mitigation or termination efforts, total store closures would be in the range of 1,335 to 1,560. The company expects a one-time net working capital benefit of $26m (£15.8m) from the store closures.