If you’ve never visited a Blockbuster but it was on your list of things to do before you die, you better do it this weekend as by Monday, every single one of the chain’s last remaining stores will permanently shut down. For good this time. It’s not coming back.
This is the second time this year that the chain has entered administration, with the first time around Gordon Brothers Europe swept in and took on the outlets, but due to what the new owners described as a reluctance to digitise and modernise the business at the US parent company, it was unable to turn around the continued decline and here we are again, less than 12 months later.
As it stands some 91 stores are still open around the country, with over 800 employees. By the end of the weekend, all of them will be out of a job and those locations will be closed for good.
“It is with regret that we have to make today’s announcement, we appreciate this is a difficult time for all concerned and would like to thank staff for their professionalism and support over the past month,” administrators Simon Thomas and Nick O’Reilly said to BBC News when discussing the administration.
KitGuru Says: Blockbuster has been down before, but it doesn’t look like it’ll be getting up this time. It’s become the poster child for antiquated business practices that didn’t keep up with the times and has seemingly refused to innovate.