Deals
Blockbuster to Cancel Leases on More Than 150 U.S. Stores
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Blockbuster Inc. the bankrupt movie-rental chain, intends to cancel leases on more than 150 U.S. stores and abandon any property left in the buildings to the landlords.
Blockbuster, based in Dallas, listed the leases it plans to cancel in two motions filed yesterday in U.S. Bankruptcy Court in Manhattan. Such announcements usually mean a retailer plans to either close the store associated with the lease or attempt to renegotiate its rent.