Final sales of discounted Blockbuster Canada merchandise popular among consumers

TORONTO, Sept. 15, 2011 /CNW/ - On September 7, 2011, the Ontario Superior Court of Justice issued an order authorizing Grant Thornton Limited, the Receiver of Blockbuster Canada Co., to, among other things, conduct an orderly closure process for Blockbuster Canada Co.'s remaining 253 retail stores and related operations.

As part of the orderly closure process, Blockbuster Canada Co. initiated final store closing sales on September 9, 2011 and is now discounting substantially all of its inventory by 40%.

"The store closure process is progressing well and we anticipate customer demand to be strong. In this regard, certain stores may close earlier than planned and certain stores will get stock replenishments in the coming days," said Michael Creber on behalf of Grant Thornton Limited.

A copy of the relevant court orders and a detailed listing of all Blockbuster Canada Co. stores can be found at: www.grantthornton.ca/blockbuster. Details regarding the clearance sales are available at www.blockbuster.ca.

US-based Blockbuster L.L.C. ("New Blockbuster") purchased the assets of Blockbuster Canada Co.'s US parent company from US bankruptcy in April, 2011 and continues to operate 1,500 blockbuster stores in the US. Those stores will remain open and are unaffected by the Canadian receivership proceedings and store closings. New Blockbuster plans to begin offering Canadian customers exciting new ways to access movies and games before year end.

Grant Thornton Limited is a Canadian Member of Grant Thornton International Ltd.


SOURCE Grant Thornton LLP

For further information:

Further enquiries, please contact:
Michael G. Creber
T +1 416 369 7047
Michael.Creber@ca.gt.com 
Issued on: September 15, 2011


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