TORONTO – Blockbuster Canada is still open for business — but just barely.
The company was placed into receivership Thursday by an Ontario court while officials try and find a buyer.
Court documents say the Canadian affiliate of U-S-based Blockbuster faces claims of more than $67-million from a number of movie studios and others.
The chain’s 400 stores in Canada remain open for now, but their long-term future is uncertain.
Employees have been told they will now be paid weekly instead of bi-weekly and they’ve been issued their vacation pay.
The have also been told not to sell gift certificates for the foreseeable future.
Blockbuster used to dominate the movie rental business but lost money for years as customers shifted to Netflix and video on demand.
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