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Report: Dish Network to assume 500+ Blockbuster leases
New York City -- A report Monday by the Wall Street Journal said that Dish Network Corp. will assume leases on more than 500 Blockbuster stores after it completes its acquisition of the video-rental chain.
The lease takeovers will assure that Blockbuster will maintain some physical presence.
In a filing with the U.S. Bankruptcy Court in Manhattan, Blockbuster also listed hundreds of locations where it plans to reject leases, as its number of open stores continues to dwindle.
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Restructuring accelerates Gap’s global growth
Gap Inc. wants international and online sales to account for 30% of its revenues within two years and a restructuring announced this week is expected to play a role in facilitating that growth.
The company said it would consolidate four existing international business units into one under the leadership of Stephen Sunnucks, a 30-year retail veteran who joined Gap five years ago.