Last summer news broke about the fate of the retail movie rental chain Blockbuster after their bankruptcy filing in 2010. After much negotiation and consideration, Blockbuster was bought out by the cable television provider Dish Network. While Dish vowed to allow many Blockbuster stores to remain open, a main office headquarters will soon be relocated.
Texas To Colorado
Blockbuster was lucky to have been salvaged by Dish Network nearly a year ago, but has continued to face challenges even after the buyout. Continued drop in sales and losing more employees over location closings has brought dim light to Blockbuster in the last 12 months. Even Dish Network hasn’t been able to find much profitability the remaining open locations.
In order to keep a close eye on operations, Dish Network is closing the Blockbuster headquarters in McKinney, Texas and relocating it to Colorado. The obvious loss in employment and tax revenue for the Dallas suburb is likely to hit close to home, as the relocation of the headquarters is expected to take its toll on the local economy. However, Colorado is expecting up to $2.5 million in job growth as the result of the relocation.