Blockbuster shuts down 960 stores -- if yours is closing post here
09-15-09 | 03:55 PM
#1
Blockbuster shuts down 960 stores -- if yours is closing post here
http://www.videobusiness.com/article/CA6696919.html
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.
Originally Posted by Video Business
Blockbuster 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.
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.
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.
09-15-09 | 04:01 PM
#2
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Re: Blockbuster shuts down 960 stores -- if yours is closing post here
so if i rent like 20 new releases a couple days prior to a close, will i have to return them?
09-15-09 | 04:07 PM
#3
DVD Talk Gold Edition
Re: Blockbuster shuts down 960 stores -- if yours is closing post here
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.
09-15-09 | 04:09 PM
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Re: Blockbuster shuts down 960 stores -- if yours is closing post here
i was actually in today and they were training a new employee, so...
09-15-09 | 04:16 PM
#5
Suspended
Re: Blockbuster shuts down 960 stores -- if yours is closing post here
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.
09-15-09 | 04:23 PM
#6
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Re: Blockbuster shuts down 960 stores -- if yours is closing post here
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.
09-15-09 | 04:30 PM
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Re: Blockbuster shuts down 960 stores -- if yours is closing post here
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.
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.
09-15-09 | 04:32 PM
#8
DVD Talk Legend
Re: Blockbuster shuts down 960 stores -- if yours is closing post here
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.
09-15-09 | 04:53 PM
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Re: Blockbuster shuts down 960 stores -- if yours is closing post here
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...
09-15-09 | 05:02 PM
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Re: Blockbuster shuts down 960 stores -- if yours is closing post here
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.
09-15-09 | 05:03 PM
#12
Suspended
Re: Blockbuster shuts down 960 stores -- if yours is closing post here
I had to 
at the fact that Blockbuster is now selling knock-off Sunglasses. After all their previous failed attempts they sell sunglasses.
at the fact that Blockbuster is now selling knock-off Sunglasses. After all their previous failed attempts they sell sunglasses.
09-15-09 | 05:34 PM
#14
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Re: Blockbuster shuts down 960 stores -- if yours is closing post here
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).
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).
09-15-09 | 08:33 PM
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Re: Blockbuster shuts down 960 stores -- if yours is closing post here
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
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
09-15-09 | 09:52 PM
#17
Banned
Re: Blockbuster shuts down 960 stores -- if yours is closing post here
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.
09-16-09 | 02:46 AM
#19
DVD Talk Limited Edition
Re: Blockbuster shuts down 960 stores -- if yours is closing post here
Netflix and Redbox are really ripping them a new one, huh?
If BB sinks, are studios still gonna whine about Redbox?
If BB sinks, are studios still gonna whine about Redbox?
09-16-09 | 03:21 AM
#20
Re: Blockbuster shuts down 960 stores -- if yours is closing post here
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.
09-16-09 | 04:37 AM
#21
Re: Blockbuster shuts down 960 stores -- if yours is closing post here
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.
09-16-09 | 04:41 AM
#22
DVD Talk God
Re: Blockbuster shuts down 960 stores -- if yours is closing post here
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.
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.
09-16-09 | 05:50 AM
#23
DVD Talk Platinum Edition
Re: Blockbuster shuts down 960 stores -- if yours is closing post here
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 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.
09-16-09 | 09:06 AM
#25
DVD Talk Legend
Re: Blockbuster shuts down 960 stores -- if yours is closing post here
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.
Last edited by stingermck; 09-16-09 at 09:09 AM.
