Blockbuster Video plans to close its Chestnut Hill and Roxborough stores by April 10.
The closings appear to be part of the video chain’s complex strategy to repay its creditors.
Blockbuster Video has been in Bankruptcy since September. The company confirmed today it will close its video outlet at 7700 Crittenden St. near Pathmark in Chestnut Hill and its Roxborough location at 7114 Ridge Ave.
Staff at the Chestnut Hill location and Philadelphia district manager Eric Weiner would not comment on the store’s closing. Weiner did confirm that “several locations” in Philadelphia would be closing.
The Chestnut Hill and Roxborough stores will stop renting videos Thursday (2/24), and then sell off its existing inventory at both locations.
Blockbuster issued this statement today: “As part of the recapitalization process, Blockbuster will be evaluating its U.S. store portfolio with a view towards enhancing the overall profitability of the store operations.” As for other Blockbuster store closings, “No decisions have been made at this time. Decisions will be made on a store-by-store basis over the next several months.”
The closing of the Blockbuster Video stores follows the closing of TLA Video at 7630 Germantown Ave in late January.