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Blockbuster Canada has been pushed into receivership by the Hollywood giants that provided it with new releases, after the studios called in $67-million (U.S.) in debt racked up by its U.S. parent company.
The surprise move comes weeks after its U.S. parent company was sold to satellite television provider Dish Network for $228-million, following a Chapter 11 bankruptcy filing in the United States that the company blamed on the changing viewership habits of its customers.
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http://www.theglobeandmail.com/globe...rticle2011406/
Some good news, for those who have existing giftcards.
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Important Notice for Blockbuster Customers
Effective April 30, 2011 all Blockbuster stores in Canada have suspended the sale of gift cards and Blockbuster Rewards programs. This suspension will remain in place until further notice.
All of the Blockbuster stores across Canada will continue to honour outstanding gift cards,
Blockbuster Rewards coupons, and other customer programs during this period.
Blockbuster customers will currently receive full value for all previously purchased gift cards and programs.
Aside from this change, Blockbuster stores in Canada are open for business and fully stocked with the latest games and new releases.
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http://www.blockbuster.ca/images/mai...ftcards_en.pdf