Blockbuster, one of the leaders in video and DVD rentals, plans to close 500 stores in the coming weeks, according to a report on Reuters.
The closings, which will take place during the first quarter of the year, include the Blockbuster store in the Putnam Plaza on Route 6 in Carmel. It's been there for about six years, and a manager told Patch that the last day of business will be March 25.
The company, which announced an increase in fourth-quarter profits, is shifting from store rentals to subscriber services and Dish Network sales, according to press reports. Dish Network bought the struggling video store chain last year.
Blockbuster had been in chapter 11 bankruptcy before the Dish Network purchase, with revenues falling as consumers changed viewing habits.
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