Blockbuster Canada going out of business

Grant Thornton Ltd., the Receiver of Blockbuster Canada has announced the movie and video game rental chain is going out of business.

After being pushed into receivership in May, the receiver closed approximately 150 of the Company’s underperforming retail locations in June and continued to operate the company’s 253 remaining stores.

Canwest Global files for creditor protection

Buried under approximately four billion dollars of debt, Canwest Global Communications Corp., owners of the Global Television Network, specialty channels – MovieTime, DejaView and Fox Sports World – and the National Post newspaper, has successfully filed for bankruptcy protection.

The filing did not include CanWest chain of twelve Canadian daily newspapers and their online operations or its specialty channels acquired from Alliance Atlantis in 2007, TVtropolis, Mystery TV or Men TV.