About 500 underperforming brick-and-mortar U.S. Blockbuster stores will be closed down during the first quarter of this year, a Dish Network executive said. The former video giant, under onslaught by Netflix and video downloading, filed for bankruptcy in 2010. It was bought by Dish Network on April 26, 2011, which began to close down retail stores. Dish Chief Executive Officer Joe Clayton told Broadcasting & Cable Magazine the company would shutter owned and franchised Blockbuster stores with too large a footprint or inflexible landlords. \"Our goal is to reach a steady state store count, so that we can leverage with our current pay TV business and our future wireless enterprise, similar to the way we incorporated Blockbuster homes, by mail and streaming services, into our pay TV business,\" Clayton said. This will be the second wave of closures. In July, Dish shuttered 200 Blockbuster locations, Broadcasting & Cable said.