Grant Thornton Limited initiates sales process for Blockbuster Canada Co.'s assets and operations

TORONTO, May 24, 2011 /CNW/ - Blockbuster Canada Co.'s Receiver, Grant Thornton Limited, has been authorized to initiate a process to identify parties interested in purchasing Blockbuster Canada's assets and operations.

On May 3, 2011, Grant Thornton Limited was appointed as Receiver of Blockbuster Canada Co. pursuant to a Court Order made by the Ontario Superior Court of Justice which made a further Order on May 20, 2011 approving a sale process recommended by the Receiver. While Blockbuster Canada will be consolidating certain stores in the next few weeks, the majority of its stores are continuing to operate in the ordinary course during the process.

"We appreciate the ongoing support of Blockbuster Canada's customers, employees, suppliers and other stakeholders during this period" said Michael Creber on behalf of Grant Thornton Limited. "We are hopeful that the process approved last Friday will result in resolution of the issues currently facing Blockbuster Canada Co."

Information related to Blockbuster Canada's receivership proceedings can be accessed at: www.grantthornton.ca/blockbuster.

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

SOURCE Grant Thornton LLP

For further information:

Michael G. Creber
T +1 416 369 7047
E Michael.Creber@ca.gt.com 


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