NEWS > BUSINESS > BLOCKBUSTER STILL HAS STORES YET TO CLOSE
BLOCKBUSTER STILL HAS STORES YET TO CLOSE
December 23 2010
Dallas, TX – In the early days of home video the world was a much different place than it is now. Pre-recorded movies were uncommon and only a select few stores carried anything worth watching but eventually the movie studios got on board and
the market started to expand, and expand rapidly. Mom and Pop stores started to sprout everywhere but it was the establishment of a single store in Dallas that would eventually alter the business forever as Blockbuster exploded and took over most avenues of distribution.
While some smaller stores were able to survive, eventually Blockbuster and other corporate chains such as Movie Gallery eventually pushed them into oblivion, utterly dominating the home video landscape and directing even the content of movie themselves. That, though, was a long time ago as well. Fortunes have changed for the one time giant and following in the footsteps of many of the stores it once crushed, Blockbuster began to see major declines in foot traffic and sales due to new distribution formats such as Netflix and Redbox. In financial dire straits for years, eventually the giant began to contract, closing thousands of stores and ceasing operations in various countries throughout the world. Now a new series of closures has shown that things haven’t gotten any better, and that the company is still, even in limited form, still around.
“182 more stores will be closed in the next few months as we continue to reorganize our business. These closures are not things we take on lightly and we do feel as though we are losing parts of our family with every closing but these things are necessary for the long term health of our business,” said the company in a statement. “These are most certainly challenging times for our company but we firmly believe that we are on the right track, the road to recovery. Blockbuster will be around for a very long time to come, this is not a brand or a company that will simply slide away into the night.”
It’s not clear how many people published the statement or whether those articles that were published hit the front page.
“I actually have a Blockbuster near me. It’s been there for years and the last few times I have gone in it was pretty much a ghost town but it is still there. I was most certainly aware that the company still existed but it is really only on paper. I mean that isn’t really a store, stores are supposed to have customers. It’s just kind of there at this stage,” said Scrape TV Business analyst Ken Green. “This news that they are closing more stores is really only a surprise because it is so amazing that they even have stores left to close. Eventually it’s got to get to the point when there really isn’t anything left to close anymore but that won’t be a surprise.”
Blockbuster supposedly still has a couple of thousand stores open to the public.
“The eventuality of time and change will eventually catch up to the company and all those stores will close but by that stage no one will really care I would guess. They will already have bypassed the company and those locations will eventually all become mattress stores or something,” continued Green. “It’s a great historical irony that the company is being pushed out of business much in the same way that it pushed so many other stores out of business all those years ago. Not that that matters or anything. I mean it’s only a video rental company and no one really cares in the end.”
It is unclear what the eventual fate of the dozens of remaining employees might be.
William Ashford, Business Correspondent