Blockbuster may close as many as 960 stores to cut costs amid fierce competition

Chicago Tribune reports:

Blockbuster Inc. may close as many as 960 stores by the end of next year, shedding more dead weight as the struggling video rental chain tries to reverse its losses and fend off rapidly growing rivals Netflix Inc. and Redbox.

The cuts outlined in documents filed Tuesday would leave Blockbuster with about 20 percent fewer U.S. stores. The previously confidential documents didn't identify the locations of the endangered stores.