TRURO - Remaining Blockbuster stores in Canada will be closing.
On Wednesday, an Ontario court issued an order authorizing Grant Thornton Limited, the receiver of Blockbuster Canada Co., to begin the closure process for Blockbuster Canada Co.'s remaining 253 retail stores, including one in Truro, and related operations. A final closing date for all stores was not released.
"The court's decision has brought finality to Blockbuster Canada's receivership proceedings. The company's employees have worked hard through this process and we are appreciative of their continued commitment and professionalism during the store closing process," said Michael Creber on behalf of Grant Thornton Limited.
As part of the closure process, Blockbuster Canada Co. will have a final clearance sale for its entire inventory at a significant discount, after which the company's remaining stores will close. The clearance sales are scheduled to begin on Friday.
In connection with the store closures, effective also on Friday, Blockbuster gift cards and loyalty/rewards programs will no longer be redeemed by customers.
U.S.-based Blockbuster purchased the assets of the Canadian company from bankruptcy in April and continues to operate 1,500 Blockbuster stores in the States. Those stores will remain open and are unaffected by the Canadian receivership proceedings and store closings.
