Blockbuster shuts down 960 stores -- if yours is closing post here

[droidguy1119]

http://www.videobusiness.com/article/CA6696919.htmlBlockbuster will close as many as 960 stores by the end of next year, as the largest U.S. movie-rental chain looks to shutter unprofitable units to cut debt.

The retailer is trying to improve its financials to comply with a recent refinancing agreement and is redeploying cash toward such initiatives as digital delivery and movie rental kiosks.

The company will incur as much as $60 million in lease-termination costs but save as much as $60 million a year with the closures, factoring the closure of money-losing stores and the amount of sales transferred to nearby operating stores, Blockbuster said in a filing with the Securities and Exchange Commission today.

The pending closures account for as much as 14% of Blockbuster's approximately 7,100 stores. About one in five Blockbuster stores loses money, the company said in the filing.If any of your local Blockbusters turns out to be going under you should post it in here.

Last time a Blockbuster in my area closed (it was only a single one) they shipped their inventory elsewhere, but I'm hoping since this is a mass closing they will be having some sales. At some point, the thread should probably go in the bargain forum, but maybe not yet, until we learn of some actual closures.

[scott1598]

so if i rent like 20 new releases a couple days prior to a close, will i have to return them?

[smashthesymbols]

At some point, the thread should probably go in the bargain forum, but maybe not yet, until we learn of some actual closures.
Actually, it will probably end up in the store forum as soon as a mod sees it.

I'll keep an eye on my closest store. I would not be surprised at all to see it close. It's always dead. The last time I went in the only people in the store were me and six employees which makes for a rather uncomfortable experience. Plus, there's two Redboxs within view of the Blockbuster, another one a tenth of a mile up the road and at least 9 or 10 around town that I'm aware of.

[scott1598]

i was actually in today and they were training a new employee, so...:shrug:

[GizmoDVD]

so if i rent like 20 new releases a couple days prior to a close, will i have to return them?

Depends.

My Hollywood Video closed down overnight (I worked at years ago :( ) and the sign on the window told everyone to keep their rentals. I spoke to a previous employee and he said they didn't want to deal with inputting those back into inventory since everything was shipped out.

And good news for Blockbusters! Hate that shithole.

[Groucho]

Blockbuster, I'm really sad for you, and I'm gonna let you finish, but Hollywood had one of the worst store closings of all time.

[scott1598]

Depends.

My Hollywood Video closed down overnight (I worked at years ago :( ) and the sign on the window told everyone to keep their rentals. I spoke to a previous employee and he said they didn't want to deal with inputting those back into inventory since everything was shipped out.

And good news for Blockbusters! Hate that shithole.

wow. that's cool you didn't have to return.

[EdTheRipper]

The Blockbuster in my city closed a while ago. As far as I can tell, there are none within a 10 mile radius of me now.

[MTRodaba2468]

I haven't heard anything about the Blockbuster closest to me closing, however, I'm friends with some of the people that work there, so I'll ask about it...

[NoirFan]

Good riddance.

[BigSue]

Torrington CT: There are two Blockbusters. The one in the center of town is closing down per a very recent article in the local rag.

[GizmoDVD]

I had to :lol: at the fact that Blockbuster is now selling knock-off Sunglasses. After all their previous failed attempts they sell sunglasses.

[gmerreighnjr]

drove by the one on 87th st in Lenexa,KS the other day and saw a big sign that said "clearence sale" but haven't had a chance to go by there yet

[dtcarson]

Apex, NC is closing. Everything is 70% off. They're even selling most of the furnishings. Apparently I missed the start of it because they were in third round of markdowns (24 foot shelving unit/bookcase for 75.00...tempting.)
Movie dvds? They had a bunch, hundreds if not a few thousand, but maybe 25 titles I had ever heard of. Most of them were C-level horror movies. (Not that there's anything wrong with those).

[Adboy151]

Some additional info on this: 18% of their locations are unprofitable -- BBV intends to close 685 of that 960 by the end of 2009, with the remaining 275 in 2010.

Now those figures are rough, it could be as low as 800 or could swell to 1,500 into 2011.

More on the death-spirial (http://news.cnet.com/8301-13506_3-10353762-17.html?part=rss&subj=news&tag=2547-1_3-0-20)

[IamLegend]

Anyone have list of possible closings? Same for maybe any Hollywood video stores etc?

[supermike07]

The Amsterdam, NY store is closing. They've had clearance sales for well over 4 weeks now and the last time I went by there (early last week) they were selling all DVDs for $5.99 each! And most of them were big hollywood catalog releases. IMO, They had cheaper prices on their previously viewed stock back when they were in business than now, maybe they're trying to make up for it somehow.

[JohnnyDaBull]

Yes one in my area is closing that I've noticed so far.

[UAIOE]

Netflix and Redbox are really ripping them a new one, huh?

If BB sinks, are studios still gonna whine about Redbox?

[Boba Fett]

I'm glad to see them go. I rented from them back in the late 90s and twice, they tried to charge me for items I returned and the employees stole the discs from (claiming I turned in an empty case). Obviously it was a common problem because a regional manager that contacted me both times offered 10 free rentals if I'd continue going there.

[g]

Are any of them discounting the new wolverine set with figure? They showed pictures on tv of a local store which said everything on sale. I havent checked it out yet.

[DJariya]

One of their main problems is the stores charge $4.99 for all titles new and old.

I don't understand why they can't drop the price of the older DVD's to say $1.49 or $1.99 for 5 days. Or maybe do more specials (rent 1, get one free?)

I realize their rent/overhead is probably really high, but wouldn't you rather rent out those movies and get the cash, than have them sit on the shelf and gather dust?

I know the mentality for most people is I want New Releases. But, IMO if you want to be a credible video store, you need a good selection of new and old movies. I think it's stupid that if an older title doesn't rent out, it automatically goes to the Used DVD's for sale area.

[Living Dead]

I'm glad to see them go. I rented from them back in the late 90s and twice, they tried to charge me for items I returned and the employees stole the discs from (claiming I turned in an empty case). Obviously it was a common problem because a regional manager that contacted me both times offered 10 free rentals if I'd continue going there.

I also stopped going after being charged for returned items. Around 1997 or so I rented a movie for film class (The Searchers) and returned it promptly. The next time I go in 2 months later I have a huge late fee and they say I never returned it. I walk to the western section and there it is on the shelf. There's only 1 copy, so I know some idiot put it back on the shelf without scanning it. I take it to the register and they accuse me of bringing it in just then and demand I pay the fee. I walked out, opened an account at Hollywood video and never went back.

I don't know which is more sad... that they would call a customer a liar or that a film as great as The Searchers would sit on a shelf gathering dust for two months without a single rental.

[vedderone]

Hopefully some close in the Maryland Area

[stingermck]

There are 4 in my area, I wonder if all 4 will survive. But hey its the cycle of life. BBV pushed out mom and pop shops, and now Redbox and netflix pushes them out.

[ams199]

The one in Cameron Village in Raleigh NC was a victim of the first round of closings, as was the one on Six Forks Rd in Raleigh.

[conscience]

The one near me always seems like a ghost town. I might stop in after work today.

[JJay]

If somebody does find a master list of closing stores, please share with the group. I didn't notice any of the three stores I regularly pass with big signage, but I'll be looking more closely today.

[JimRochester]

Depends.

My Hollywood Video closed down overnight (I worked at years ago :( ) and the sign on the window told everyone to keep their rentals. I spoke to a previous employee and he said they didn't want to deal with inputting those back into inventory since everything was shipped out.

And good news for Blockbusters! Hate that shithole.

We have one Hollywood Video in the area that built on a prime corner. I never see more than one or two cars in the parking lot and I figure those are employees.

Actually, it will probably end up in the store forum as soon as a mod sees it.

I'll keep an eye on my closest store. I would not be surprised at all to see it close. It's always dead. The last time I went in the only people in the store were me and six employees which makes for a rather uncomfortable experience. Plus, there's two Redboxs within view of the Blockbuster, another one a tenth of a mile up the road and at least 9 or 10 around town that I'm aware of.

There are several around me. The one I usually went to subdivided the building with a Starbucks. (Like there weren't enough of those around either). I've stopped going to the locations. My online membership allowed free in store exchanges but I went so seldom I decided to save the money and just wait for the mail. Being unemployed I had to save money wherever I could.

My online membership is the greatest. I have never had any major problems and the few times I called to correct something they took care of it right away. Netflix on the other hand screwed me so I will never deal with them again.

[The Monkees]

so if i rent like 20 new releases a couple days prior to a close, will i have to return them?

When one of the stores in my old district closed I was told by the store manager months after it closed that they told all the customers they had to return them to a nearby store, but in reality they had no inventory of the items checked out and the customers could have kept the movies. Don't quote me on that, they may have changed that but that's what I was told a few months ago.

[Cheato]

Hopefully some close in the Maryland Area

Hopefully you lose your job, too.


Seriously, what is with the vultures in this thread?

I'm not even going to directly address the comments by people who have been much more vicious. I used to work for Blockbuster as a part-time employee. The people I worked with were all competent and reasonable people that worked hard and did their best to help the customers find what they wanted. I don't give a damn if you had a bad experience in some Blockbuster (or a dozen or a hundred bad experiences). Obviously you took your business elsewhere, but this "I'm glad..." attitude is disgusting and offensive. How about showing some compassion for some fellow human beings instead of dancing on the graves of their jobs?

[stingermck]

How about showing some compassion for some fellow human beings instead of dancing on the graves of their jobs?

Like the jobs BBV danced on? Im just saying.

[clckworang]

Like many, I have a Blockbuster experience from several years ago that soured me to the franchise. I used to be a very loyal and frequent movie renter. I rented one DVD from Blockbuster and returned it about 30 minutes after the due date. I figured I could just pay the late fee when I went to rent a movie again. Wrong! I actually started receiving multiple letters/warnings in the mail saying that if I didn't go the store and pay my $3.50 fee or whatever it was that my account would be forwarded to creditors and further steps would have to be taken to get their money. Really? For a customer who actually returned the movie, only just slightly late, and had never had any past issues with fines? And over a one-day fee?

I thought it was pretty ridiculous. I went to the nearest location, paid my fine and vowed never to go there again. And I haven't. The fact that I never encountered anyone at any of the locations I used (multiple cities) that actually knew anything about movies made the decision even easier to make.

I feel sorry for the people who are losing their jobs, but nearly everyone I know has had some type of bad Blockbuster experience. Like I said, it has been a really, really long time since I've used a Blockbuster (there probably were still some VHS tapes!) so things might have really changed for the better. But the incident from above was my last draw; you can only push around your customers for so long before they decide that they just don't want to ever go back.

[GizmoDVD]

Hopefully you lose your job, too.


Seriously, what is with the vultures in this thread?

I'm not even going to directly address the comments by people who have been much more vicious. I used to work for Blockbuster as a part-time employee. The people I worked with were all competent and reasonable people that worked hard and did their best to help the customers find what they wanted. I don't give a damn if you had a bad experience in some Blockbuster (or a dozen or a hundred bad experiences). Obviously you took your business elsewhere, but this "I'm glad..." attitude is disgusting and offensive. How about showing some compassion for some fellow human beings instead of dancing on the graves of their jobs?

No one cried fowl when Blockbuster drove all the mom and pop stores out of business. What about those jobs lost?

[Cheato]

And I'm not talking about BBV. I'm talking about the people who work(ed) there.

You can be glad that a (in your opinion) poorly run company is (potentially) going to go out of business, as hopefully it will be replaced by a better one. That's capitalism, and I applaud it. It doesn't always work out the absolute best way, but I believe in it, and I think things generally improve over time as a result of it.

However, I am not going to dance around about it and immediately start looking for some way to profit off of it. Many hardworking people who are just trying to earn money to pay for school or support their families or buy DVDs are losing their jobs. So I ask again: where's the compassion?

[Cheato]

No one cried fowl when Blockbuster drove all the mom and pop stores out of business. What about those jobs lost?

foul, not fowl


Really? No one cried foul? No one?

And I'm sure you and everybody else who did would still be using those mom and pop stores to handle your movie needs right now.

Maybe you actually would. But again, I don't actually care. You vote with your wallet, I vote with mine, and on and on. The world moves on. Everything's temporary. I don't live in the U.S.. I buy all my DVDs from online retailers. Blockbuster being there or not being there has no immediate effect on my life.

However, somehow you and others have allowed Blockbuster to put such a serious hurt on you that you're pleased to see some regular people heading to the unemployment line. Half of the people in this thread with a "Blockbuster story" have claimed to not been in one in years. So what the hell do you care if they're in business or not? Some kind of petty revenge? Some 20-year-old made a mistake or was malicious to you, and you hold a grudge for years and are pleased that a dozen people from your neighborhood are now out of jobs? Seems fair.

One poster even claimed that a regional manager tried to make up for the precious insult by offering a bunch of free rentals. But he really stuck it to that manager who was trying to make good by refusing to ever go there again. And now that store might be closing down! I hope they're all heading to the unemployment lines, and maybe I can get some cheap DVDs in the fire sale.

And how about the people here that are actually speculating about how to steal from Blockbuster. Rent DVDs right before they close down so that you won't have to return them? Simple and petty(*) theft.

(*) not the legal definition of "petty," more the one with the connotation of "pathetic"

[Living Dead]

Hopefully you lose your job, too.

Seriously, what is with the vultures in this thread?

I hope they're all heading to the unemployment lines, and maybe I can get some cheap DVDs in the fire sale.

I am not going to dance around about it and immediately start looking for some way to profit off of it. Many hardworking people who are just trying to earn money to pay for school or support their families or buy DVDs are losing their jobs. So I ask again: where's the compassion?




There's one of you in EVERY SINGLE THREAD about stores going out of business. It gets old.

"Oh! How could you? These people are losing their jobs! Damn your icy cold hearts!"

Stores close. Sales begin. Consumers take advantage. It's that simple. There's nothing any of us can do to change the fact that these people are going to lose their jobs, but we may as well reap the benefits of the store closings.

I won't feel the least bit guilty about it. There wouldn't be fire sales at all if the point wasn't to sell the merchandise.

[Cheato]

Sorry to rain on your parade. Carry on.

Hopefully, your job is the one discussed in the next thread like this. And I say that with all due compassion.

[Living Dead]

Oh dear... I'm considering taking advantage of a fire sale... A NORMAL PART OF ANY BUSINESS CLOSING... so I should therefore lose my job. The logic is irrefutable.

I bought a couch at a furniture store that was going out of business last week. I was excited about the price, too. And I say that with all due compassion.

rotfl

[stingermck]

My favorite mom & pop shop had a deal: 7 movies, 7 days, for $7 dollars. I think I rented half the store. Then BBV came to town with 4 stores. I wonder who stuck around? That was just one of several M&P places that went out.

But I will say I still go to BBV. But only to spend rape dollars when CAG or DVDTalk alert me to a bogo sale.

[JimRochester]

No one cried foul when Blockbuster drove all the mom and pop stores out of business. What about those jobs lost?

We did what we always do; jumped on those going out of business deals like a vulture going after road kill.

[Vipper II]

It sucks that so many people will lose their jobs, but Blockbuster has had it coming for quite some time. They were way too slow in adjusting to the times.

[clckworang]

foul, not fowl


Really? No one cried foul? No one?

And I'm sure you and everybody else who did would still be using those mom and pop stores to handle your movie needs right now.

Maybe you actually would. But again, I don't actually care. You vote with your wallet, I vote with mine, and on and on. The world moves on. Everything's temporary. I don't live in the U.S.. I buy all my DVDs from online retailers. Blockbuster being there or not being there has no immediate effect on my life.[/B]

:hscratch: So, wait a minute ... you are allowed to not actually care, but we are required to show sympathy? That doesn't seem too fair. As you say, everything is temporary; I'm sure those people will find new jobs. And again, as you say, we did vote with our wallets, and obviously there were a lot of people who chose not to vote for Blockbuster. So by using all of your same logic, I see no reason why we should be required to show "sympathy" for this corporation.

[jjcool]

I havent set foot in a Blockbuster since they tried to say I didnt return a couple of movies, that I had handed to an employee on time.
Good riddance, i say. Cant wait to see if there are any good sales around.

[SpinalGuffman]

There are 4 in my area, I wonder if all 4 will survive. But hey its the cycle of life. BBV pushed out mom and pop shops, and now Redbox and netflix pushes them out.This. I have no sympathy, haven't rented there for years. Occasionally I buy something used.

[newginafets]

does it mean, more SALE? yeeheey!

i'm sorry for those who lost the job though :(

[UAIOE]

It sucks that so many people will lose their jobs, but Blockbuster has had it coming for quite some time. They were way too slow in adjusting to the times.

This.

I can't understand how a company that had a name synonymous with renting movies failed to capitalize on what Netflix and Redbox do.

I suppose I can understand the Netflix part, that take some serious setup....but Redbox? When these things started popping up, why didn't Blockbuster try and put similar machines everywhere?

[JimRochester]

This.

I can't understand how a company that had a name synonymous with renting movies failed to capitalize on what Netflix and Redbox do.

I suppose I can understand the Netflix part, that take some serious setup....but Redbox? When these things started popping up, why didn't Blockbuster try and put similar machines everywhere?

This thread keeps discussing Blockbuster stores vs. Netflix. Blockbuster's online rental system is far superior to netflix IMHO. They never throttled their customers and allowed in store exchanges. The only interaction with Netflix customer service ended poorly and a couple with BB ended very well.

I don't envy them trying to stock a store in a good location, then put in employees to rent a product that in 6 months will be in some bargain bin for $3. The whole DVD marketing startegy was a sell-through strategy making it very difficult for the rental market. Without the umpulse purchases of DVD's, soda, popcorn, or candy B&M is too expensive to maintain a profit.

[cpgator]

This thread keeps discussing Blockbuster stores vs. Netflix. Blockbuster's online rental system is far superior to netflix IMHO.

While I respect your opinion, you are certainly in the minority.

[jeffbase34]

While I respect your option, you are certainly in the minority.

Blockbuster just can't compete with Netflix. Netflix's library is amazing. I'm finding all kinds of documentaries to watch, and even OOP dvds like Return to Lonesome Dove.

[Wolf359]

They can all close, hopefully tomorrow. I'm STILL getting calls a year later from their collections for a Dark Knight Returns I supposedly didn't return. Fuck 'em. :mad:

[Cheato]

:hscratch: So, wait a minute ... you are allowed to not actually care, but we are required to show sympathy? That doesn't seem too fair. As you say, everything is temporary; I'm sure those people will find new jobs. And again, as you say, we did vote with our wallets, and obviously there were a lot of people who chose not to vote for Blockbuster. So by using all of your same logic, I see no reason why we should be required to show "sympathy" for this corporation.

(Seriously, people, read the f-in posts before responding.)

I never said anything about sympathy for a corporation.

My "I don't actually care" was specifically in a simple sentence that said I didn't actually care about where you shopped or didn't shop. My "I don't give a damn" comment was directed at the idea of using a bad experience in a store as justification to take joy in the fact that a bunch of people have lost their jobs.

I'm not sure how you could confuse those things or why you would take those words and apply them to a different idea. It's like you saw random words in my posts and reassembled them in a way that gave you an opportunity to use a phrase like "by your own logic." However, you weren't using "my" logic.

My disgust is based on the fact that among all the responses, all I was seeing was things like "how can we profit from this?"--even to the extent of "how can we steal from them?"--and yet not a single person said anything about the people actually losing their jobs.

Finally, thank you to Vipper II for one of the most reasonable comments (including my own) in this thread.

[cpgator]

Relax dude - BB has screwed a lot of people, so people are happy to see them go. No big deal.

[UAIOE]

Without the umpulse purchases of DVD's, soda, popcorn, or candy B&M is too expensive to maintain a profit.

This is why I am puzzled they didn't start going the Redbox route.

You buy/maintain a machine, stock it, place it somewhere where someone will see it and impulsively rent it. You don't have to maintain nearly as many stores and you increase your coverage/access to customers.

I know squat about marketing, I'm just a dummy, and even *I* got the concept. Why didn't BB?

[Kmical]

Blockbuster's online rental system is far superior to netflix IMHO. They never throttled their customers and allowed in store exchanges.

While that may have been the case in the past, it appears that their recent shipments for myself (and others I have talked to) amount to throttling:

I have 28 movies in my Blockbuster queue. 19 of them are listed as available. For some reason (throttling to save them money on shipping?), the most they will have out to me at a time is 2 - even though I'm on a three-at-a-time plan with unlimited in-store exchanges.

Let's say I get one in the mail, watch it, then bring it back to my local store for an in-store exchange. The store movie shows up in my queue (as it should), while the exchanged title disappears (again, as it should). When I bring this movie back and drop it off at the store in the morning, it clears from my queue that same morning. Now - they should ship me another movie. Fat chance - it may be two or three days before they ship another one.

If this happened occasionally, I would think this was just normal supply/demand. But it's taking place every week! Returns are clearing immediately (due to the in-store exchanges), but they appear to be in no hurry to send titles out.

Netflix, on the other hand, had been doing a superb job lately. With many of their warehouses now processing movies on Saturday, I get lots of titles in those red envelopes showing up in my mailbox ;) I'm usually shocked to see a blue envelope these days ...

[Draven]

The only reason I've gone into a Blockbuster lately is for decent prices on used Blu-rays. They don't sticker the discs up and I bought replacement cases online, so a quick swap and they look almost new.

That said, ever since I joined Netflix (and was with Blockbuster Online before that) I didn't need to ever rent a movie in person again. I'm surprised I still see customers in there most of the time. But there are three Blockbusters in about a 10 mile radius near my house (and there were two Hollywood Videos before they closed) that it makes sense they aren't able to keep stores open.

Bye Blockbuster...sorry you sucked so bad.

[clckworang]

(Seriously, people, read the f-in posts before responding.)

I never said anything about sympathy for a corporation.

My "I don't actually care" was specifically in a simple sentence that said I didn't actually care about where you shopped or didn't shop. My "I don't give a damn" comment was directed at the idea of using a bad experience in a store as justification to take joy in the fact that a bunch of people have lost their jobs.

I'm not sure how you could confuse those things or why you would take those words and apply them to a different idea. It's like you saw random words in my posts and reassembled them in a way that gave you an opportunity to use a phrase like "by your own logic." However, you weren't using "my" logic.

My disgust is based on the fact that among all the responses, all I was seeing was things like "how can we profit from this?"--even to the extent of "how can we steal from them?"--and yet not a single person said anything about the people actually losing their jobs.

Finally, thank you to Vipper II for one of the most reasonable comments (including my own) in this thread.

Oh, I read all your comments, and I think what I said was still on point. You say we should talk with our wallets. We did. Guess what the consequence of that ultimately will be? People lose their jobs. And if you don't care where we shop, why should you care if we take advantage of these types of sales? Where in this thread did anyone say, "Hooray, lots of people are losing their jobs!" I don't recall anyone saying that. I guess any time a place is having a going out of business sale we're supposed to not go because that's disrespectful to the business that's closing. Would it make it better if we wore black?

I feel like you have put us in the Seinfeld episode where the reporter thinks Jerry is gay (not that there's anything wrong with that). If we talk about a liquidation or going out of business sale, we need to add at the end of that "but I feel really bad for the people losing their jobs." Or if the Seinfeld thing doesn't do it for you, how about The Simpsons? "The children! Won't somebody think of the children?!"

If you have sufficiently fulfilled your need for moral superiority and political correctness, you can move on.

[awil1026]

Blockbuster's online rental system is far superior to netflix IMHO. They never throttled their customers and allowed in store exchanges.

rotfl

That's a good one, Jim!

I had six months free of Blockbuster and hated it-- and it was free! After my six months ended, I went back to Netflix (I had used Netflix for a month in 2007). I loved it. Netflix didn't throttle me and I always received the next rental the day after shipment from their facility.

There are those three times where Netflix skipped over my first queue slot and shipped the title in slot #2. Each time, this was rectified the next day when the skipped-over title was shipped as a bonus rental from another part of the country.

[Cheato]

Oh, I read all your comments, and I think what I said was still on point.
(a) If you did, you didn't understand them.
(b) You're wrong. You weren't "on point." You made two assertions, both of which were 100% wrong. No soup for you.

You can (incorrectly) try to chalk it up to some attempt at "political correctness" or my trying to be "morally superior," if that helps *you* feel superior by labeling and denigrating my opinion, but that doesn't change the facts. You'd be better served trying to make a valid point of your own, instead of trying to use politically charged buzzwords to try to make it easier to dismiss someone else's.

Thank you for your permission to "move on." It's really just a thinly-veiled STFU and go away, right? The best way to win an argument? What's next? Simple name-calling? Maybe a "get a life?" Maybe a "you're not worth my time?" Or a "this is my last post on the subject, so don't bother replying?" Or how about a "just get over it?" And don't forget to pepper your post with laughing smilies. I'll check a "How to Argue a Point on the Internet" FAQ from 1994 for more options for you.

[JimRochester]

rotfl

That's a good one, Jim!

I had six months free of Blockbuster and hated it-- and it was free! After my six months ended, I went back to Netflix (I had used Netflix for a month in 2007). I loved it. Netflix didn't throttle me and I always received the next rental the day after shipment from their facility.

There are those three times where Netflix skipped over my first queue slot and shipped the title in slot #2. Each time, this was rectified the next day when the skipped-over title was shipped as a bonus rental from another part of the country.

Until recently I had 3 at a time. Numerous times I had 4 out because they would just send another one. Sorry but I had none of the problems you guys are reporting. On the other hand with Netflix, they never sent the top of the queue, they sent old catalog titles instead of new releases. After I cancelled I still had problems with them charging my credit card. I still ended up paying for month I never received.

[Brent L]

I know of one Blockbuster that will be closing. They are currently doing the liquidation thing - 30% off movies and 10% off games right now. It will last for a month, and each week the % off will go up.

[Chrisedge]

I don't give a damn if you had a bad experience in some Blockbuster...


How about showing some compassion for some fellow human beings instead of dancing on the graves of their jobs?

I fucking hate blockbuster, and your post helps cement it.

You don't give a damm if I had a bad experience, yet you ask ME for some compassion.

I created my site (see sig) almost 10 years ago, because of a shitty experience. This company fostered getting a shitty experience and not bothering to train anyone or hire folks that "care" (see your post)

I feel bad for anyone looking for a job, but if BB goes out of business, I WILL BE HAPPY.

[cpgator]

The customer satisfaction ratings for Netflix are always very high, while with Blockbuster... not very high at all.

[Living Dead]

What's next? Simple name-calling? Maybe a "get a life?" Maybe a "you're not worth my time?" Or a "this is my last post on the subject, so don't bother replying?" Or how about a "just get over it?" And don't forget to pepper your post with laughing smilies. I'll check a "How to Argue a Point on the Internet" FAQ from 1994 for more options for you.

Personally, I prefer this when arguing a point on the internet:


....................../´¯/)
....................,/¯../
.................../..../
............./´¯/'...'/´¯¯`·¸
........../'/.../..../......./¨¯\
........('(...´...´.... ¯~/'...')
.........\.................'...../
..........''...\.......... _.·´
............\..............(
..............\.............\...


I've found it works much better than that old FAQ from 1994!

[clckworang]

(a) If you did, you didn't understand them.
(b) You're wrong. You weren't "on point." You made two assertions, both of which were 100% wrong. No soup for you.

You can (incorrectly) try to chalk it up to some attempt at "political correctness" or my trying to be "morally superior," if that helps *you* feel superior by labeling and denigrating my opinion, but that doesn't change the facts. You'd be better served trying to make a valid point of your own, instead of trying to use politically charged buzzwords to try to make it easier to dismiss someone else's.

Thank you for your permission to "move on." It's really just a thinly-veiled STFU and go away, right? The best way to win an argument? What's next? Simple name-calling? Maybe a "get a life?" Maybe a "you're not worth my time?" Or a "this is my last post on the subject, so don't bother replying?" Or how about a "just get over it?" And don't forget to pepper your post with laughing smilies. I'll check a "How to Argue a Point on the Internet" FAQ from 1994 for more options for you.

And what exactly is your opinion then? All I've gotten from you is a wet blanket trying to make people guilty because they might actually get a decent buy at Blockbuster for a change. Use a mirror. You are more guilty of all the things you accuse me of. I'm not using any buzzwords, just simple English. I made my point. You are the one that is going into attack mode. I think you got far more personal than I did.

I guess I'm wrong with my assertion that all these stores are closing because people quit shopping at them. Hmm, I wonder why they are closing then.

And yes, I think coming into a thread about store closings and jumping on people because they aren't crying out over the injustice of people losing their jobs is trying to put yourself in a position of moral superiority. Couple that with the fact that I don't think you really read my comments, either ...

[jjcool]

I'm gonna go by one of the local Blockbusters tonight. We'll see if those thieves have anythign decent left for a good price. Maybe i can recoup some of the money that they have stolen from me in the past. I can safely say, that that is one chain of stores that I wont be sad to see them shuttered. Every blockbuster I ever went into was terrible.

[smashthesymbols]

I checked the Blockbuster nearest me (40 and 7 intersection, Blue Springs, MO) and it appears to be open for the time being. I didn't go in, but there was no signage or anything to indicate it was closing.

Also, as I mentioned earlier, completely dead as usual. There was exactly one vehicle in the parking lot, which had to be an employee.

[JimRochester]

The customer satisfaction ratings for Netflix are always very high, while with Blockbuster... not very high at all.

Not disputing that. In fact I know Netflix has a good reputation on the board. My experiences with both have just been very different than what other people have been experiencing

[statcat]

used to always think of them as ballbuster

[mraw]

I fucking hate blockbuster, and your post helps cement it.

You don't give a damm if I had a bad experience, yet you ask ME for some compassion.

I created my site (see sig) almost 10 years ago, because of a shitty experience. This company fostered getting a shitty experience and not bothering to train anyone or hire folks that "care" (see your post)

I feel bad for anyone looking for a job, but if BB goes out of business, I WILL BE HAPPY.

I went to your site and read your story. It infuriated me! Blockbuster attempted to charge me late fees for a movie that I never rented in 2005 (I remember it was Constantine). I got in a shouting match with the assistant manager and ended up calling corporate. They informed the store manager of the incident and she gave me two rentals and let me pick a new DVD from the rack for free. She said that she wanted me to continue patronizing the store, but I didn't go back until this year when I read about the 2 for $25 blu-rays. I still haven't rented from there.

[MoviePhanatic00]

I'm not really a huge fan of NF or BB, but will say BB has been the better choice lately. NF cs is just a joke. At least BB will give you real credit when they mess up. BB doesn't charge premium for Blu. The problem with NF is that they will basically have a monopoly on Blu rentals after BB goes under. NF competes against themselves, they want to be the number one for streming video, but streaming is in direct competition to physical media. NF is just Playing both sides and one of them is going to get screwed over in the end and NF won't have anay aoplogies. BB lost sight of it's goal long ago, if they had stuck to movies only and jumed on the Blu bandwagon sooner, I think they would be in a much better position now.

[clckworang]

I'm not really a huge fan of NF or BB, but will say BB has been the better choice lately. NF cs is just a joke. At least BB will give you real credit when they mess up. BB doesn't charge premium for Blu. The problem with NF is that they will basically have a monopoly on Blu rentals after BB goes under. NF competes against themselves, they want to be the number one for streming video, but streaming is in direct competition to physical media. NF is just Playing both sides and one of them is going to get screwed over in the end and NF won't have anay aoplogies. BB lost sight of it's goal long ago, if they had stuck to movies only and jumed on the Blu bandwagon sooner, I think they would be in a much better position now.

I think there will be a place for discs for a long time to come. People still like to hold something physical if they like it enough (or if it's cheap enough). I think Netflix's streaming service helps fulfill those impulse viewing needs. Then you have to take into account that there are still people who live in areas where broadband my not be available, and even with broadband, there can still be problems with streaming at this point. I think the two will coexist for some time.

I do agree that Netflix's premium Blu-ray pricing is the pits, but I don't think Blockbuster would have benefitted much by getting into the Blu game sooner. There's just not enough Blu-ray players in homes yet.

[Draven]

What do I pay more for Blu-ray for Netflix...$2 a month? I can find that in between my couch cusions.

[cpgator]

What do I pay more for Blu-ray for Netflix...$2 a month? I can find that in between my couch cusions.

I pay an extra $5 and it sucks - but certainly not enough of a reason to go to BB.

[whotony]

used to always think of them as ballbuster
Oh that really clever, come up with that on your own.

anyway I work at a BB, I wouldn't be surprised if my store closed.
It/s the only one in the area and it doesn't matter.

very low traffic.

I spent about a month at a differnent bb and for the first 2 weeks back
customers asked me were I was and that they are glad I'm back.
Not all locations are as bad as some of you make it out.

I guess I'll lose my job if this one closes, making many here happy.

[ProfessorEcho]

I believe it was holier-than-thou Blockbuster who said they would never carry any NC-17 movies in their stores, no matter what they were. This was one of the reasons why we saw so few NC-17 movies being made during the 80's-90's; Blockbuster wielded a lot of power in those days and studios wouldn't think of producing something that couldn't be stocked at Blockbuster.

And if memory serves, they also refused to carry SHADOWS AND FOG, though they claimed it had nothing to do with the Woody Allen/Mia Farrow scandal going on at the time. They just said they wouldn't carry it because it was lousy movie. Wow, since when did they become such arbiters of quality movies? I guess that accounts for every Steven Seagal straight to shit that lines their shelves?

Does anyone really think Viacom, the eventual parent corporation of Blockbuster, cared about not just the employees who lost their jobs at the M&P video stores they put out of business, but M&P themselves who lost their entire livelihoods and life savings they invested in their little businesses? For Viacom this will all be a simple write off and, I'm sorry, but that's the reality for any employee at any corporation at anytime. You want some company loyalty and care and concern for employees? Go work at a M&P company. Whoops!

Good riddance to Blockbuster and I feel absolutely no guilt in saying so.

[Drexl]

I had to :lol: at the fact that Blockbuster is now selling knock-off Sunglasses. After all their previous failed attempts they sell sunglasses.

The future's so bright, they gotta sell shades. :)

I understand that video stores, even Blockbuster, are going away. But, as far as I'm concerned, streaming is nowhere near ready to replace discs, even just for rentals. Even putting aside the physical aspect, holding it in your hand, etc., there are still major quality issues. I've tried out NetFlix's streaming, and I'll wait for the disc in most cases. I've seen some very poor quality on that service, even for recent movies.

It isn't like games, where on Steam the game you download the exact same quality as the disc.

[Alan Smithee]

"It's my belief that no true movie lover has any business going into Blockbuster in the first place, since its policies have done so much harm to modern American cinema."
-Roger Ebert

They really are taking a long time to die- this is at least the 3rd wave of store closings I've heard about in the past couple years. I've heard that they are trying out a machine rental system too, similar to Redbox.

I want to find a copy of that cut version of "Showgirls" that was made for them, since they've always refused to carry NC-17 rated movies (and a big reason why so many movies are cut for an R rating or lower before theatrical release- it used to be THE main reason but probably not so much nowadays.) Of course the huge hypocrisy now is that they DO carry "unrated" versions, since they're technically not rated even though the content would warrant an NC-17, but if were rated they wouldn't carry it.

[UAIOE]

I guess I'll lose my job if this one closes, making many here happy.

I'm not dancing that people are gonna be unemployed, but I'm not going to feel sorry for a company that (IMO) has done little to keep itself relevant.

[Rockmjd23]

I guess I'll lose my job if this one closes, making many here happy.
Well they did get screwed out of 10 cents 15 years ago, so you can see why they would be happy.

[whotony]

Well they did get screwed out of 10 cents 15 years ago, so you can see why they would be happy.

there is some truth to that.
I was hired about 8 years ago.
at the time there was a raise twice a year but at the end of that first year they changed it to once a year and didn't make up the difference.
So about 8 years ago there was a loss of 10 to 15 cents an hour for some people.

Also I've noticed that most of these complaints are from 8-10 years ago when BB had a dope running the place.
The guy obviously had no vision.

At least this new guy is trying to catch up and fix what the last guy didn't want to do.

While no were close to redbox there is going to e about 1000 BBV boxes in stores at year end.
Probably not enough though and mostly too late.

[Rockmjd23]

I managed a BBV during '05-'06. Even then it felt like being on the Titanic.

[UAIOE]

At least this new guy is trying to catch up and fix what the last guy didn't want to do.

The last guy sounds like the reason BB is in the mess its at now.

While no were close to redbox there is going to e about 1000 BBV boxes in stores at year end.
Probably not enough though and mostly too late.

Right on both accounts. 1,000 isn't enough, and BB is just going to try and play catchup to Redbox

[Rockmjd23]

There was always a rumor going around internally at BBV that the Netflix guys approached BB early on with their idea and was laughed off.

[mcfly]

I'm not dancing that people are gonna be unemployed, but I'm not going to feel sorry for a company that (IMO) has done little to keep itself relevant.If you're still working at Blockbuster knowing the company will eventually be belly-up, then it's your own fault if you you don't find something else in time.

This isn't just BB going out of business; it's tough times in this economy so playing the "Boo-hoo people hate me and I'll lose my job then they'll be happy!" card is just stupid since other retail stores have closed their doors and lots and lots of companies have been laying off workers left and right.

Be smart. Defend Blockbuster all you want - good for you. But UNTIL your store goes out of business, check out want ads and look at other stores to find something. If the chain goes out of business no one's going to give a crap about you defending it.

[JoeySeven]

I didn't read through all the post so I hope this is new news.
I believe they have 5000+ stores now.

I use Netflix,Redbox,local Library and also trade DVD's.
Only go into Blockbuster when they have A REALLY good sale to buy DVD's.

Would not surprise me if the store in Albany,Or closes.
The town has lost at least 3 big stores and we have A Hollywood Video that is twice as nice as the BB Video.

Blockbuster Closing 960 Stores – Opening 9,500 Kiosk

It’s been a rough few years for Blockbuster. So rough in fact, that they’ve announced the closing of nine hundred and sixty retail stores across the US.

685 of those stores will be closed by year’s end, with the remaining 275 shutting down in 2010. According to their SEC filing, Blockbuster is ready to shut down up to 1,500 locations should the need arise. Clearly, Blockbuster is losing ground in the brick and mortar space, but they have a plan to rejuvenate their company, a plan inspired by their biggest competition.

Adding to the 497 current Blockbuster Express rental kiosks already deployed, the company plans to open an additional 2,000 by the year’s end. By 2010, Blockbuster hopes to have 10,000 rental kiosks in locations across the country.

That still puts them at around half of Red Boxes current install base, but Blockbuster seems to be hinting towards some major retailer support. Additionally, existing Movie Cube rental kiosks will be converted into Blockbuster Express kiosks thanks the acquisition of competing kiosk company The New Release.

Blockbuster also hopes to capitalize on their Total Access and On Demand services, which have a high profit margin and little upfront cost. Interestingly, while Netflix is listed as a competitor for Blockbuster’s Total Access movies by mail service, the name is absent from the competition list for Blockbuster On Demand.


http://www.highdefdigest.com/news/show/High-Def_Retailing/Blockbuster/Blockbuster_Closing_960_Stores_%E2%80%93_Opening_9,500_Kiosks/3455s

[mcfly]

I didn't read through all the post so I hope this is new news.Maybe you should read all of the posts. Or even look at the thread title. Then maybe you'd see that this is what the thread is about.

[calhoun07]

I havent set foot in a Blockbuster since they tried to say I didnt return a couple of movies, that I had handed to an employee on time.
Good riddance, i say. Cant wait to see if there are any good sales around.

Probably not the best place to say it, but since I am thinking of it... I would dare say that handing your movies to an employee is the WORST way to ensure they get checked in on time. It seems there is a small segment of customers who think this is safe. And it probably works most of the time, but for the random time it does not work, it looks like you may have made the mistake if they can't locate your movies.

I guarantee you putting it in the drop box is far safer. They have procedures in place to make sure the movies in the drop box get checked in and if they do get missed, it's likely just one stack of 20 or so movies that get missed and the manager does a FOS report everyday (found on shelf) and they will soon realize they forgot a stack of 20 movies in the drop box and realize they did make a mistake in not checking in your movies.

If you hand them to an employee, they may put them down and wait on somebody else and then you just don't know what happens to them. They could get locked and put back on the shelf, maybe another customer found one or two of them and thought about renting them and decided not to get them and just dropped them at some random place in the store...anything could happen and then it's your word against theirs and they will play the waiting game to see if you find them or if they have an inventory coming up to see if they are in the store.

Just use the drop box. That's what it's there for.

[calhoun07]

I can't understand how a company that had a name synonymous with renting movies failed to capitalize on what Netflix and Redbox do.


I fail to understand how a corporation who has stores in the UK used rental kiosks similar to Redbox YEARS before Redbox ever came around and did not think, "Hey, this could work in America." Or just not even try it in a few test locations to see if it would catch on at the least.

And, yes, Blockbuster UK had rental kiosks like Redbox in the early 2000's.

And I do read the trade magazines...it seems the biggest company suffering in the Redbox era is Netflix, not Blockbuster so much. Blockbuster (as has been pointed out) has been suffering for many years now, before Redbox even came around. And they have no excuse when the SAME CORPORATION that runs the UK stores failed to capitalize on something that was working over there and use it here in America and allowed another company to swoop in and take that market share. It's an epic fail on their part.

[calhoun07]

Blockbuster's online rental system is far superior to netflix IMHO. They never throttled their customers and allowed in store exchanges.

But what Blockbuster online has done is gradually reduce the benefits of the online rentals and taken things away from the customer over time. Not all at once...that would piss them off...but it's far from the great deal it was when it first rolled out. And it gets worse all the time.

[calhoun07]

Does anyone really think Viacom, the eventual parent corporation of Blockbuster, cared about not just the employees who lost their jobs at the M&P video stores they put out of business, but M&P themselves who lost their entire livelihoods and life savings they invested in their little businesses? For Viacom this will all be a simple write off and, I'm sorry, but that's the reality for any employee at any corporation at anytime. You want some company loyalty and care and concern for employees? Go work at a M&P company. Whoops!

Good riddance to Blockbuster and I feel absolutely no guilt in saying so.

Viacom hasn't owned Blockbuster for YEARS. They actually shed them when the company was still doing well for itself, so it's been a while.

[whotony]

I guarantee you putting it in the drop box is far safer. They have procedures in place to make sure the movies in the drop box get checked in and if they do get missed, it's likely just one stack of 20 or so movies that get missed and the manager does a FOS report everyday (found on shelf) and they will soon realize they forgot a stack of 20 movies in the drop box and realize they did make a mistake in not checking in your movies.

If you hand them to an employee, they may put them down and wait on somebody else and then you just don't know what happens to them.

Just use the drop box. That's what it's there for.

this is a good point.
I've done it, hand it to me while I'm on register talking to another customer and then forget about the 2 dvds someone just walked over with and handed to me.

The biggest problem I've seen in the 2 stores were I work are the people who just drop the dvds on the shelf ABOVE the hole in the wall that is the drop box.

Whenever I notice someone do it I have to tell them "in the slot please" and explain that just laying it on the counter allows for anyone to walk by and pick it up.

[jjcool]

Probably not the best place to say it, but since I am thinking of it... I would dare say that handing your movies to an employee is the WORST way to ensure they get checked in on time. It seems there is a small segment of customers who think this is safe. And it probably works most of the time, but for the random time it does not work, it looks like you may have made the mistake if they can't locate your movies.

I guarantee you putting it in the drop box is far safer. They have procedures in place to make sure the movies in the drop box get checked in and if they do get missed, it's likely just one stack of 20 or so movies that get missed and the manager does a FOS report everyday (found on shelf) and they will soon realize they forgot a stack of 20 movies in the drop box and realize they did make a mistake in not checking in your movies.

If you hand them to an employee, they may put them down and wait on somebody else and then you just don't know what happens to them. They could get locked and put back on the shelf, maybe another customer found one or two of them and thought about renting them and decided not to get them and just dropped them at some random place in the store...anything could happen and then it's your word against theirs and they will play the waiting game to see if you find them or if they have an inventory coming up to see if they are in the store.

Just use the drop box. That's what it's there for.

Oh, believe me, that is how I normally operate. There just happened to be a guy standing behind the counter that day, with a Manager's tag on that specifically said "Hand those to me". I figured that the Store Manager would know how to do his job. First and only time I made the mistake of thinking anyone working at a Blockbsuter video knew anything at all.

[ProfessorEcho]

Viacom hasn't owned Blockbuster for YEARS. They actually shed them when the company was still doing well for itself, so it's been a while.

I stand corrected. Thanks for the update!

[JoeySeven]

Maybe you should read all of the posts. Or even look at the thread title. Then maybe you'd see that this is what the thread is about.

That they are Opening 9,500 Kiosk.
Be interesting to see what they charge per disc and what kind of selection these kiosk will have.

[Alan Smithee]

It'd be fun to return Blockbuster kiosk discs with porn in them (you can fit 2 discs in the cases, so you could still return the movie and give the next customer a little something extra and give Blockbuster the finger for their policies.)

[UAIOE]

Be interesting to see what they charge per disc and what kind of selection these kiosk will have.

Probably isn't going to be $1 per night.

Because, ya know, that is too cheap (so says movie studios).

[orangecrush]

Probably isn't going to be $1 per night.

Because, ya know, that is too cheap (so says movie studios).I could see $2 for first night, $1 for each additional night.

[jfoobar]

Viacom hasn't owned Blockbuster for YEARS. They actually shed them when the company was still doing well for itself, so it's been a while.

I have always considered Viacom's move one of the wisest corporate sales in modern business history.

[jfoobar]

Hopefully some close in the Maryland Area

Numerous Maryland stores had already closed long before this was announced. I used to pass 2 on the way home from work, one in Lanham and one in Seabrook. Both have been gone for some time. The only two anywhere near me that are still around are Bowie and Berwyn Heights (edge of College Park) and I doubt either of those are going anywhere.

[dkedvd]

UPDATE ON STORE CLOSURES!
Just got word from a manager/friend at Blockbuster. Blockbuster is NOT closing 960 more stores! About two years ago they announced they would be closing 520 stores nationwide. They have slowly been closing them down since that announcement. They just recently announced the number would be going up to 960. So in fact 960 more stores are not closing only 440. My area was already affected by the closings two years ago. So if a bunch of Blockbusters shutdown by you within the past two years do not expect anymore by you to do so. The same rules still apply. They are going to try and keep stores at least 10 miles apart and get rid of any who pay outrageous leases.
Also...
Some stores (even the ones not closing) have the used DVDs in the CD jewel cases for sale all marked at 9.99.

[cpgator]

Some stores (even the ones not closing) have the used DVDs in the CD jewel cases for sale all marked at 9.99.

They are selling used DVDs in CD cases for $10? Seriously?

[dkedvd]

They are selling used DVDs in CD cases for $10? Seriously?
Yea but I'm sure they are expecting most people to use the 5 for $20.00 deal on them.

[Alan Smithee]

Still too much, since I can get BRAND-NEW DVDs at Big Lots for $3, sometimes less. I NEVER buy used for the purpose of saving money- it has to be something out of print that I otherwise can't get at all.

[UAIOE]

I saw this movie rental machine today that was neither Redbox nor some BB machine.

A blue machine called "Movie _____", and it was $1 a day, just like Redbox.

[StealthStratos]

I saw this movie rental machine today that was neither Redbox nor some BB machine.

A blue machine called "Movie _____", and it was $1 a day, just like Redbox.

Movie Cube

http://www.moviecube.com/

[krampster]

Noticed a thread in the Bargains forum on this same subject with better detail on which stores are closing--specific info was provided on certain Maryland store closings, for those interested.

[calhoun07]

That they are Opening 9,500 Kiosk.
Be interesting to see what they charge per disc and what kind of selection these kiosk will have.

You mean 950 kiosks? Because I heard about a thousand, so is 9500 a typo?

[Phibes]

My BB had some discs in envelopes that they wanted $3.99 for. Looked like they were from their online rental outfit. Thought that was a bit much for such.

They are selling used DVDs in CD cases for $10? Seriously?

[chriscooling]

You mean 950 kiosks? Because I heard about a thousand, so is 9500 a typo?
Nope.

LOS ANGELES (Reuters) - Blockbuster Inc said on Wednesday it expects to have 10,000 rental kiosks by the end of next year following partner NCR Corp's purchase of No. 2 U.S. DVD kiosk operator of TNR Entertainment Corp.

In August, Blockbuster and NCR announced a DVD vending kiosk strategic alliance, and the two companies have just completed a pilot test program in Dallas and Oklahoma City.

NCR, a minority investor in TNR Holdings Corp since the summer of 2008, said on Tuesday it had acquired the remaining equity in the company for cash.

Houston-based TNR, the second-largest DVD vending business after Redbox, operates about 2,200 DVD kiosks under the MovieCube and The New Release brands in dozens of supermarket chains.

Industry leader Redbox, owned by Coinstar, has more than 12,000 locations, according to its website.

[IamLegend]

September 18, 2009
Blockbuster Raises Money To Push On
Story on Reuters reporting Blockbuster has successfully raised additional capital and now has the cash needed to reposition. Sounds a bit like General Motors in many ways but then again they had to do this and they have done it. Maybe it will work.

Blockbuster CEO says financing should enable growth
Thu Sep 17, 2009 8:55pm EDT
By Sue Zeidler

Story on Reuters

LOS ANGELES (Reuters) - A round of capital-raising and refinancing has alleviated a cash-flow crunch at DVD rental chain Blockbuster Inc, enabling it to revive plans to reposition itself and get back on a path for growth, Chief Executive Jim Keyes said.

Loss-making Blockbuster is trying to ramp up its stores, kiosk, digital and by-mail offerings to compete against fast-growing rivals like kiosk provider Coinstar Inc's Redbox and Internet rental site Netflix.

"The new financing will allow the company to make investments designed to grow the business," said Keyes.

"This provides a great amount of flexibility. We now have more runway to complete the transformation of our business," he said.

"In 2009, we've been cash flow starved, but we've just eliminated a lot of that pressure," said Keyes, referring to the company's doubling of a private note offering to $675 million on Thursday.

Blockbuster in May also completed funding on a $250 million amended and extended credit facility, slashing its required debt payment due 2010 to $90 million from $400 million.

"This gives them the lifeline they need," said Stacey Widlitz, analyst with Pali Research, referring to the private note offering.

"Blockbuster was strapped for cash and had to skimp on inventory ... and that's a huge swing factor for the company. They won't be able to correct inventory overnight, but this should give them the flexibility to move toward having product back in stock in Q4 and Q1."

Since mid-August, Blockbuster's shares have risen about 50 percent to Thursday's close of $1.39 a share.

Keyes said a pushback by various large Hollywood studios against rival Redbox -- amid fears its $1 per night rentals at more than 17,000 automated kiosks is hurting business -- should help Blockbuster as it moves ahead with its own plans to install 10,000 stand-alone DVD rental kiosks by end of 2010.

"Redbox will have difficulty in purchasing titles," said Keyes, who said he supported Hollywood's position for a "vending rental window," which would keep hot new releases out of kiosks for a few weeks.

He said Blockbuster will now be able to continue ramping up its digital offerings to compete more effectively with rivals Netflix, cable and satellite TV operators and digital movie services like Apple Inc's iTunes.

The company this week said it may close up to 960 stores by the end of 2010. But Keyes stressed the company may not have to close them all.

"If we can't fix those, we'll go ahead and close them," said the former 7-11 CEO, noting he believed the brick-and-mortar store model will be around for years to come.

"The store, we believe, has the ability to remain relevant indefinitely if we continue to change it," he said.

Blockbuster has said it may also convert up to 300 of its stores to outlets and up to another 300 were subject to lease mitigation or termination efforts.

Altogether, up to 1,560 of the company's 3,750 U.S. stores are either subject to closures or other restructuring efforts, it has said.

Posted by staff at September 18, 2009 12:24 PM

[GizmoDVD]

Great...money they will never pay back. Just awesome.

[RonG617]

Oakland New Jersey Blockbuster closing soon.

[rider555]

used to always think of them as ballbuster
My brother always refers to them as "cockbuster".

[Wunderbar]

Hopefully all blockbusters close, dumb christian owned corporation

[Wunderbar]

actually, I take that back sorry!

[whotony]

Quote:
Originally Posted by statcat
"used to always think of them as ballbuster"
My brother always refers to them as "cockbuster".

Hopefully all blockbusters close, dumb christian owned corporation

actually, I take that back sorry!

Wow, you guys are making this topic "special".

[toddly6666]

New York City folk, come get some deals! Flatbush avenue (border of Prospect Heights and Park Slope) Blockbuster is closing...

[pilot]

Blockbuster is expected to close anywhere from 25 to 600 additional stores over the next few years on top of the previously announced 950 store closings through 2010, according to Wedbush Morgan Securities analyst Michael Pachter.

http://www.homemediamagazine.com/blockbuster/analyst-blockbuster-shutter-additional-stores-17602

[RonG617]

My local store in Oakland, NJ has been getting in truck loads of crap from other stores to sell in their closing sale. The sale sucks though. Catalog titles marked 12.99 with 40% off down to like 7.99. But most of the titles I can buy brand new for 6 bucks and not have a scratched up copy. It is just amazing to see people with armfuls of stuff thinking they are getting a great deal because a sign says 40% off.
Blockbuster is the worst run company. They were so late in supporting dvds, then blu-ray, or realizing the impact of Netflix and now Redbox. Then they try to jump on the wagon and take advantage of the trend and it always turns out to be too little too late. They are doing the same with streaming movies. Netflix works out deals with Tivo, X-Box and Playstation over the last year or so, and now Blockbuster realizes it might be a good idea.