Blockbuster Closing Its Remaining Retail Stores

Found On: www.slashgear.com

It was announced yesterday that the end of an era was officially here. Blockbuster has announced that they intend to close all of their remaining retail stores in early 2014, as well as discontinue their movie mailing service. The company, which was founded in 1985, had become an incredible success and dominated the 1990's with their movie rental service.

Failing to keep up with the times, however, they began losing ground to competition such as Netflix, which offered movies through the mail. Blockbuster was too slow to adjust to society's quickly changing entertainment methods. According to an article on The Huffington Post, Blockbuster was purchased by DISH Network at a bankruptcy auction in 2011 for $320 million. Blockbuster at its peak, however, had a market value of $5 billion in 2002.

Be sure to click on the link below to read the article on The Huffington Post.

Blockbuster Closing All Of Its Remaining Retail Stores