I have covered the travails of Blockbuster locally, since the Memphis-area stores are run by what once was the largest Blockbuster franchise operation in the country.
Blockbuster filed Chapter 11 late last year, and a few stores in Memphis have closed since then.
Here’s the latest one. Ironically, after the bankruptcy filing became public, the franchise group wrote a letter assuring customers it would be “business as usual” at that store, and that the franchise group is separate from the corporate parent.
The reason for the rental giant’s troubles are no secret. People want to press a button and rent/buy movies from their couch. It’s that simple.
An interesting side note – Netflix raised considerable ire in the blogosphere over the past few days when it gently suggested it is headed toward a DVD-less, primarily online distribution model.