Final days of sales of discounted Blockbuster Canada merchandise

Toronto, ON, September 22, 2011

On September 7, 2011, the Ontario Superior Court of Justice issued an order authorizing Grant Thornton Limited, the Receiver of Blockbuster Canada Co., to, among other things, conduct an orderly closure process for Blockbuster Canada Co.’s remaining 253 retail stores and related operations.

As part of the orderly closure process, Blockbuster Canada Co. initiated final store closing sales on September 9, 2011 and is now discounting all of its inventory by 50% to 70% or more.

“The store closure process is progressing so well that a number of the stores will be closed at the end of business on September 25, 2011 and discounts at those stores will be significant. We anticipate customer demand to be strong in the final days of the closures. Certain stores will also get stock replenishments in the coming days for the final sales,” said Michael Creber on behalf of Grant Thornton Limited.

A copy of the relevant court orders and a detailed listing of all Blockbuster Canada Co. stores can be found at: www.grantthornton.ca/blockbuster. Details regarding the clearance sales are available at www.blockbuster.ca., including details of which stores will be closed on September 25, 2011 and which stores will remain open.

US-based Blockbuster L.L.C. (“New Blockbuster”) purchased the assets of Blockbuster Canada Co.’s US parent company from US bankruptcy in April, 2011 and continues to operate 1,500 blockbuster stores in the US. Those stores will remain open and are unaffected by the Canadian receivership proceedings and store closings. New Blockbuster plans to begin offering Canadian customers exciting new ways to access movies and games before year end.

Grant Thornton Limited is a Canadian Member of Grant Thornton International Ltd.

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Further enquiries, please contact: 
Michael G. Creber 
T +1 416 369 7047 
E Michael.Creber@ca.gt.com 

Issued on: September 22, 2011