The hits keep on coming for Blockbuster as it sits crumpled in the corner of the ring, waiting for the bell.
Last week, Blockbuster UK was forced into administration, a move which imperiled 528 stores and 4,190 jobs. Then – just yesterday - BBC News reported that Blockbuster UK would close 129 stores across the pond, leaving 760 employees facing the threat of layoffs. According to Joint Administrator, Lee Manning, the move is a “… consequence of having to restructure the company to a profitable core which is capable of being sold.”
To top it all off, the third punch in the recent flurry landed today. Multiple outlets are reporting that Blockbuster now plans to close 300 stateside stores in the next few weeks, leaving the chain with only 500 stores in the U.S. Though that may sound like a healthy amount, consider that Blockbuster once laid claim to over 4,000 locations.
The surviving stores may now shift to selling smartphones and/or wireless subscriptions, as parent company Dish Network hopes something will stick to a wall that has repelled every projectile.
Dish insists that it still believes in the marketability of Blockbuster’s household name-brand, but if the company continues to be thwarted at every turn, we could see the complete dissolution of a one-time industry leader.
Can anything stop the internet from huffing and puffing and blowing brick and mortar down?