NEW YORK (

TheStreet

) --

Blockbuster

(BLOAQ.PK)

will shutter 182 stores in 2011, as it works to emerge from bankruptcy.

The movie rental giant, which is currently battling it out in bankruptcy court, disclosed in a filing with Manhattan bankruptcy court that it will close 72 stores before the end of the year and 110 early next year.

Blockbuster has already closed about 1,000 underperforming stores in the past two years. The company had about 3,000 locations when it filed Ch. 11 in September, and said business would go on as normal.

Nonetheless, analysts have said that they expect Blockbuster's footprint to shrink substantially, with some estimating the company will close between 500 to 800 stores.

In the last several weeks, Blockbuster has appeared to ramp up its advertising with the promotion "Less Waiting. More Watching."

Last week its

Blockbuster Express kiosk business announced a partnership with Warner Bros

, and earlier in the month said it would begin testing renting select DVDs the day they are released for home purchase.

The company is expected to emerge from bankruptcy protection in the second quarter of 2011 under new owners led by billionaire

Carl Icahn

, according to reports.

--Written by Jeanine Poggi in New York.

>To contact the writer of this article, click here:

Jeanine Poggi

.

>To follow the writer on Twitter, go to

http://twitter.com/jpoggi

.

>To submit a news tip, send an email to:

tips@thestreet.com

.