Blockbuster closes more stores! Is this the end? Couldn’t happen to a nicer company! Haha
Blockbuster LLC (formerly “Blockbuster Inc.”) is an American-based provider of home video and video game rental services, originally through video rental shops (both owned and franchised), later adding DVD-by-mail, streaming video on demand, and kiosks. At its peak in 2009, Blockbuster had up to 60,000 employees. There are around 1700 Blockbuster stores in the U.S. with locations in 17 countries worldwide. It is headquartered in McKinney, Texas. Because of competition from other video rental companies such as Netflix, Blockbuster has undergone significant revenue losses. The company filed for bankruptcy on September 23, 2010, and on April 6, 2011, was won by satellite television provider Dish Network at auction for $233 million and the assumption of $87 million in liabilities and other obligations. The acquisition was completed on April 26, 2011.
As of January 3, 2010, Blockbuster had over 4,000 U.S. stores, of which it planned to close between 810 and 960, while planning to open as many as 10,000 video rental kiosks by mid-2010. As of January 3, 2010, it had more than 2,500 international stores (operating under Blockbuster and other brands). It had been claimed that there are more than 43 million U.S. households with Blockbuster memberships.
It couldn’t happen to a nicer company! Ripping people off for years! Their days are numbered! With redbox charging $1.00 a movie it severely hurt Blockbuster. Now at $1.20 they already did the damage and raised their prices.
Not only is redbox hammering the nails in Blockbusters coffin, but Netflix owns the majority of mail-order rentals.
Blockbuster is supposedly changing from stores to redbox like kiosks, but I have never seen one! And I have been all over the country.
Blockbusters high prices 4.00+ for a rental no matter how many nights! $10 for a game rental and late fees to boot! They started digging the hole for their grave years ago!
Blockbuster closed 960 stores in 2010.
I just visited their last store in my area on Saturday. They told me tomorrow is the last day for rentals and the out of business sale begins on Monday. To which my reply was good riddance!
The final nail in the coffin was sunk when redbox began to also rent blueray and video games.
Blockbuster I’m not sorry that you are gone and I hope the idea of high price rentals and late fees that equal the original rental price rot in hell with your name!
P.S. can you take Dancing with the Stars with you?