Wednesday March 16, 2011

Blockbuster of a Closing: Video Store Shuts Doors

Blockbuster Video closes after showing lack of profit
By Lou Sorendo

    Blockbuster Video, 135 state Route 104 East, Oswego, has shut down.

    Sunday ended a five-week clearance sale at the store, which opened in the Port City in 1994.

    “Why does any store close? This location wasn’t profitable,” a spokesperson at the store said. “Other locations are so they are staying open.”

    He said employment levels varied at the video chain store from five to 10 workers.

    Blockbuster filed for bankruptcy protection in September of last year, battered by online and mail order services such as Netflix that have transformed how customers rent movies, according to a Reuters report.

    Blockbuster plans to reinvent itself as a leaner competitor with more digital video offerings, including offerings on mobile devices, the report noted.

    The bankruptcy allowed the company to break leases and Blockbuster has closed hundreds of stores.

    The company was founded in 1985 when videocassette recorders were becoming a fixture in U.S. homes.

Oswego County Business Magazine
Issue 164

Issue 164
October/November 2019

Cover Story

  • Cruse Control
  • Jeff Cruse takes over as top leader for Novelis’ Oswego Works

Profiles

Linda Eagan

On The Job

What type of marketing do you find most effective?

Success Stories

The Child Advocacy Center of Oswego County

My Turn

Why President Trump Won’t Admit Mistakes

Newsmakers

News Briefs on Local Businesses & Business People

Economic Trends

Oswego County IDA Recapitalizes Popular Loan Program

Last Page

Rodmon King