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  #1  
Unread September 15th, 2009, 11:20 AM
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Blockbuster to shutter as many as 960 stores

Quote:
DALLAS – Blockbuster is planning to close as many as 960 stores by the end of next year. That would shrink the video rental chain by more than 20 percent as it struggles against stiff competition from Netflix and Redbox.

The store closures disclosed in documents filed Tuesday shows Blockbuster is having to cut much deeper than it anticipated to save money and keep its lenders happy.

Blockbuster now expects to close between 810 and 960 of its U.S. stores through 2010, up from its the 380 to 425 stores that normally would be closed. If Blockbuster hits the high end of the new target for store closures, it will represent 22 percent of its 4,356 U.S. stores.

The Dallas-based company has closed 276 stores so far this year.
Its only a matter of time until blockbuster goes the way of circuit city. I guess most of you should start looking for another job or researching unemployment in your state (or country). And unfortunately most of you are going to have to break the news to mom and dad that its just not the right time to move out yet and your going to be living in the basement for just a little while longer.

Last edited by 0311marine; September 15th, 2009 at 11:30 AM.
  #2  
Unread September 15th, 2009, 12:23 PM
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Holy shit! 960! I know there's Blockbuster loyalists on here like john and zoo, but there's no arguing with these numbers. I think the end is near.


PS
Nice random flame you threw in there asshole. No wonder everyone hates you.
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  #3  
Unread September 15th, 2009, 12:32 PM
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The article states the 18% of BBV stores in the US are not profitable. The largest predicted number of closings is 22% of the US stores. If they truly did close less than 5% of stores turning a profit than I think they'll buy some significant time.
  #4  
Unread September 15th, 2009, 12:41 PM
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Perhaps, but I would frankly be surprised if the company survives past 2010... I wonder if any of the stores in my area are going to be closed. So far, all of them have remained unscathed. I seldom visit my old store anymore, but last the time I was in there they weren't doing too well. They could definitely be on the chopping block.
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  #5  
Unread September 15th, 2009, 04:13 PM
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I was surprised, but this story actually made onto the local newscast. Of course, they really played it up as dramatic ("Big changes coming to your local Blockbuster"), but what really made me laugh was the accompanying video. Naturally, they dug up some old stock footage of employees putting videos back on the shelf...

VHS videos, that is.
Wow. Was that the best you could do?

Still, it does make you wonder how much gas the company has left in the tank. So far, only one store in our area has closed. We're one of the higher volume stores, so I'm thinking (hoping) that we're OK. Like a lot of others on this board, I don't have a lot of love for the company, but I am rather attached to the paycheck.
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  #6  
Unread September 15th, 2009, 04:36 PM
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Quote:
Originally Posted by Morbid Angel View Post
Nice random flame you threw in there asshole. No wonder everyone hates you.
I agree, although most people on here now don't know his history. but people just check out his past post.
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