Blockbuster US to close remaining retail stores and DVD mail operation
It's the end of an era.
Blockbuster - once a pioneer in the video rental space - is to close its remaining retail stores in the US, as well as end its DVD by Mail operations in the country. Blockbuster's brand and video library will be retained by owner Dish.
Blockbuster was reorganised in the US under the country's bankruptcy laws and then acquired by Dish in 2011. Joseph P Clayton, president and chief executive of Dish, blamed consumer demand moving toward digital distribution of video entertainment as the reason why it will close the last of Blockbuster's 300 US retail stores.
Dish will also end the Blockbuster By Mail service in mid-December, though the company will still focus on Blockbuster On Demand. It's a streaming services that offers movies viewable on connected devices like PCs, smartphones, set-top boxes and select TVs and Blu-ray players.
Blockbuster in Britain is a subsidiary of US-based Blockbuster LLC. Restructuring specialists Gordon Brothers Europe bought Blockbuster UK in March, after going into administration last January. Blockbuster UK had 528 stores at the time, but now it has just 264 stores and 2,000 staff.
Blockbuster has not been able to stage a turnaround since its financial collapse and has again filed for a form of bankruptcy in the UK. As a result, Gordon Brothers Europe revealed some stores may need to close.