BBC News - Blockbuster goes into administration
Not sure if I'm surprised about this or not. I know there are lots of online streaming services but none of them really have all the latest mainstream movies instantly available like Blockbuster seam to have on their shelves.
doesnt come as a suprise this one either, given the shift to online movies and streaming services, even game rentals are going that way.
[before I start, just want to say that I was about to start a thread with that exact title until I saw yours. Weird!]
Yet another company who refused to move with the times.
Drive out in to the sticks somewhere to pay £5 to rent a movie I have to return the following day, or stream it from the comfort of my armchair for the same price or less? No competition.
Rawns (16th January 2013)
This really needs to serve as a wake up call for all high street stores - move with the times and don't wait to see what happens..
Netflix, which is the main online rival to Blockbuster, is barely out of nappies,
Blockbuster has made no effort to move with the times and this is the inevitable result.
Even as a kid Blockbuster always seemed to me to be massively expensive (with what little financial knowledge i had at age 5) compared to other video shops and just seemed old fashioned, i'm surprised it's taken this long to be honestOriginally Posted by Gatt
Shame - My son loves going in there. He uses his pocket money and rents his XBOX games from them. its better than buying them outright and he normally gets bored of them after a week. Does anywhere else hire console games like this?
Lovefilm do game rentals
Not sorry to see them go... Our local ones were always expensive, had a poor selection and employed film-nerds with no customer service skills.
The news on Radio 6 just said they had 500 stores in the UK - not bloomin' surprised they went bust with all that rent to pay.
As with HMV, my only surprise is how long this took. Commiserations to all those folk who've lost a job, though - not their fault. Never their fault.
Problem is dont you have to pay a subscription for Lovefilm? With blockbusters he just went along when he had the money.
I am hoping someone like Blinkbox start doing games as you only pay for what you use. I dont really want to be tied in.
Always awful for the staff who end up loosing their jobs. We popped into Comet when it was closing down and the store was just a shell with about 30 iytems dumped in the corner. All the staff were in too stood around looking depressed (which is not really surprising).
Any predictions who (if any) could go next? Not sure how Argos is doing exactly, but I could see them closing a few stores in the future if the high street continues the way it's going...
Well according to the quotes they claim the "Core business is still profitable"... read into that what you will.
To be honest the only firms that appear to be making money at the moment are accountants and firms (like Delloitte) who administer bankruptcies.
"People are still renting films, just not on discs, from us, at our prices."
sonofsanta (16th January 2013)
Argos' profits have fallen somewhat, but they are still in profit as far as I know. They were reportedly closing about 75 shops from their 749 a while ago.
The group as a whole, the Home Retail Group, made a relatively small profit last year too, so that chain doesn't seem to be imploding. (It was a bit of a pathetic profit, of about £70m on £5bn+ sales though).
I reckon WH Smiths will implode sooner rather than later, get gutted by administrators and be left only as a newsagents in train stations and airports.
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