08/31/2011 05:46 EDT | Updated 10/31/2011 05:12 EDT

Blockbuster Bankruptcy: All Remaining Stores Shutting Down

TORONTO - The remaining Blockbuster stores in Canada are to be closed.

The receiver in charge of the bankrupt movie rental company is seeking a court order to shut about 253 locations and wind down the business.

The receiver said it has tried to sell Blockbuster Canada, but was unable to reach an agreement with a buyer.

Receiver Grant Thornton already shuttered about 150 Blockbuster Canada stores in June.

The receiver said the closure process should begin in the next few days, and existing gift cards will and rewards programs will no longer be accepted.

A court hearing to consider the closure is scheduled for next Tuesday.