Losses continue to pile up at Rogers Video

Sales at Rogers Video continue to plummet according to financial results released by Rogers Communications today.

The Video chain’s for the three months ending September 30, 2011 were $18 million, down 45% from the $33 million reported during the same period a year earlier. For the first nine months of this year, revenues have fallen 46% to $60 million, down from $111 million for the first nine months of 2010.

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.