For most companies, shelving 35% of your business is a hard blow to overcome. For Blockbuster, it may be the beginning of yet another long battle to keep from becoming the company to formerly own a bunch of now empty space looking for renters.
Home Media Magazine is reporting that the company is shuttering 300 stores, roughly 35% of its locations here in the US. After picking the company up out of bankruptcy, Dish Network has already gone through the process of dumping 850 stores by the end of the third quarter in 2011, and by February of last year, the company had 1000 stores running.
This shouldn’t come as all that much of a shock, as the brick and mortar store is definitively going out of style here stateside, with company after company launching a streaming service instead of some sort of physical media store. Personally, as a person who has used Blockbuster growing up, with many a memory coming from that company, it’s upsetting to see them not able to find any sort of footing in today’s landscape, but it’s not at all shocking.
Source Home Media Magazine