Blockbuster to Shut Down 186 Locations By April

Blockbuster Store - September 2010
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The move is the latest in the troubled company's attempt to cut losses during its bankruptcy process.

Blockbuster is pulling the plug on 186 stores around the U.S. in anticipation of its upcoming April auction.

The video and game rental company stated in court filings that it plans to leave those properties by the end of the month, notes the Los Angeles Times.

Once the dominant home video provider, Blockbuster has failed to keep up with competitors like Netflix and Redbox. Since filing for bankruptcy in September, the company has struggled through a failed reorganization plan, deep debt and a barrage of lawsuits filed by studios, landlords and more.

Creditors plan to sell Blockbuster to the highest bidder at an auction on April 4.