Blockbuster said its 3,000 stores in the U.S., DVD vending kiosks, by-mail and digital businesses will all continue to operate normally. Operations outside the U.S. and domestic and international franchisees are not part of the Chapter 11 reorganization.
Blockbuster US files for bankruptcy…there’s a surprise (NOT!)
September 23, 2010
Sometimes businesses fail and you think “Huh, didn’t really see that coming”. Blockbuster’s failure is not one of those cases.
With pirating sites taking over and the introduction of a new, forward-thinking competitor (Netflix), the writing was on the wall. And it’s not just Blockbuster. It’s every company that isn’t adjusting to current market trends. Consumers are impatient and fickle: get with it, or get the hell out.
And that’s what they’re supposed to do. The company’s supposed to adapt. Blockbuster made no attempt to reposition itself to suit the ever-changing needs of the market. And now they’re paying the price.
So I guess there’s going to be a ton of retail space up for grabs pretty soon! But not yet.
According to the Globe and Mail:
So Canadian Blockbusters will still be kicking for a bit. So maybe go out and get your $4 previously viewed DVDs while you still can. If you’re still into DVDs. But it’s a bit passe.