Blockbuster’s administrator will close 72 stores

Who never rented movies and videos from Blockbuster before? Blockbuster as we all known is an American provider of home movie and video game rental services. Right now due to technology Blockbuster is facing the brink of bankruptcy. Troubled DVD rental chain Blockbuster will close 72 out of its 264 stores in the UK and cut 452 jobs after it went into administration for a second time in October. Right now at this stage of time it’s hard for people to get out of their homes and go to a video rental stores just to get movies when they are able to access it online. Blockbuster’s competitions such as Netflix and Redbox, who provide online video rental sites. Although it is extremely upsetting for the staff but the decision has to get through. In the article it stated that “We must reiterate that, as part of our attempts to turn around the business, today’s decision is necessary if parts of Blockbuster are to be saved and a buyer found.” It isn’t like before where we are all excited to go to a movie rental store to get movies, now we will just able to access it online.

People walk past Blockbusters store (file photo 2010)

http://www.bbc.co.uk/news/business-24938668

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