Blockbuster Canada To Close Remaining 253 Stores, YouTube Movies Comes To Canada

Toronto - Blockbuster Canada will be closing down its remaining stores by the end of the year.

Grant Thornton Ltd., the accounting firm that was selected in May to oversee the movie rental chain’s receivership proceedings, stated in a news release Wednesday that it is seeking an order on Sept. 6 from the Ontario Superior Court of Justice at a hearing to wind down the video store’s operations and shut down the remaining 253 stores.

The firm explained that they could not locate a suitable acquirer to make the necessary investments into Blockbuster Canada.

If the court approves the request, the closure process would begin in only a few days. Therefore, the company would not be obligated to accept loyalty-rewards programs and/or gift cards.

“We appreciate the ongoing support and wish to thank Blockbuster Canada Co.'s employees, customers, suppliers and other stakeholders during this difficult period,” said Granton staffer, Michael Creber.

Earlier this summer, approximately 150 Blockbuster Canada stores were closed.

One day after Blockbuster Canada’s grim news made the headlines, Google quietly announced on its blog that its popular online movie rental service, YouTube Movies, will be coming to Canada.

In the United States, YouTube Movies has been operating since May, but now Canadians can view both major Hollywood blockbusters and independent motion pictures online. The new YouTube service has a catalogue of approximately 3,000 films.

Those who have a computer, a YouTube account and a credit card can rent older movies for $3.99 and new flicks for $4.99. The rental period lasts between 24 and 48 hours, but it depends on how new the picture is.

“Many movie pages feature YouTube Movie Extras -- free behind-the-scenes videos, cast interviews, parodies, clips and remixes from YouTube’s unique community of content creators,” wrote Google in its blog. “Over time we'll also be adding additional videos and features to YouTube Movie Extras so that you can get even more into movies on YouTube.”

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