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Blockbuster Canada Placed into Receivership

Grant Thornton Limited announced that it has been appointed as receiver of all assets, undertakings and properties belonging to Blockbuster Canada.

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Unedited press release follows:

Grant Thornton Limited appointed Receiver of Blockbuster Canada Co.

TORONTO, May 5 – Pursuant to an order of the Ontario Superior Court of Justice dated May 3, 2011, Grant Thornton Limited was appointed as Receiver of the assets, undertakings and properties of Blockbuster Canada Co. (“Blockbuster Canada” or the “Company”).

The Court Order provides the Receiver with the authority to operate Blockbuster Canada’s business and assess the various options available for the Company and its stakeholders. The Company’s stores are open for business. The Receiver expects to initiate a process in the near term to identify parties interested in purchasing Blockbuster Canada’s enterprise and assets.

A copy of the Court Order and information related to Blockbuster Canada’s receivership proceedings can be accessed at:

Grant Thornton Limited is a Canadian Member of Grant Thornton International Ltd.