To be honest I had seen it coming for a while, just not the entire company, merely my store (which had been running at a loss for at least 3 years BUT nobody ever bothered to offer to buy the lease and we're a really good preforming store in regards to targets set by the company not TNR based, presales, rental etc.).|
I honestly doubt someone will buy us, the rental market is there but it is most certainly not what it used to be.
I can remember the store requiring 3 people on during Fridays and Saturdays and two people the rest of the week. About two years ago they reduced it to single cover on every day but Saturday and even then one person can usually cope on a Saturday.
For example, today the store took just over £200, which is awful when compared to somewhere like Game which make that in 4-5 new game sales.
Blockbuster WTF! • Page 4
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Sorry for the double post but a heads up on things.
They're looking to close about 120ish stores this week and another 100ish within the month. The Admininstrators only have a month to find a buyer anyway, so if they don't, the entire chain goes and personally I kind of doubt they will.
Unlike HMV which still had really heavy ties to the UK music industry, Blockbuster really doesn't have that and both Lovefilm and Netflix do what it does only easier (if you've got a console you don't even have to leave your seat).
My store is one of the stores closing down by the end of next week, in this area there is one store which is a 50/50 whether they'll last the month and one is staying put (unless the whole fail to find a buyer thing happens).
They were thinking of putting stores into a permanent closing down mode and use those to sell all the shite the others stores couldn't sell but it doesn't look like that'll happen.
Accepting Trade stopped about a week ago, still accept giftcards though just don't issue them, though not sure for how long.
Now before you go renting a shit ton of films (we're not renting games anymore, haven't done for a week and not joining new member for about the same length of time) and not returning them, all the account details from the closing stores will be transfered to the nearest stores, so your fines und shite will still carry with you.
Edited by Dr_Mech at 15:43:46 01-02-2013
Dougs 69,482 posts
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Sorry to hear that, sucks big time. Just sounds like the company didn't respond quickly enough to new entrants/markets.
Hate to be so blunt, but Any bargains to be had?
Nope, basically anything that the company could make good money on got shipped out to stores who aren't closing down, leaving us with all the dregs.
50% of second hand DVDs, 30% off of everything else except consoles which are 10% and even then the only consoles not shipped out to non-closure stores or back to the suppliers were the DSi and the Vita (heh that probably says something about the Vita but I won't go into that).
Aretak 10,376 posts
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Registered 12 years ago
Mr-Brett 12,890 posts
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I'm amazed that anyone resurrects companies like Blockbuster, HMV game to a slightly lesser extent GAME. The business models are out of date and quickly becoming more so. The only thing BB could really do now is launch a Netflix competitor and they wouldn't need the retail operation for that (also I doubt they could afford the licenses).
I feel for the employees but it's the times-a-changin' and you can only fight that for so long.
Level 37 Social Justice Warrior
Aretak wrote:Honestly doesn't surprise me, as a former employee can definitely say the company made far too many stupid choices to really recover from. As other have mentioned they should have been the first to jump on things like rent by post and streaming but they kind of blew them off as a fad or in the case of rent by post, really halfarsed the investment into it.
In perhaps unsurprising news, they're back in administration. I'd guess finding a buyer this time will be difficult, given the people who bought it just six months ago have been unable to do anything to turn the company around.
They were like a stubborn mule, refusing to see that the market was changing. Plus they invest money into ideas that were just stupid, like their 'rental boxes' which were vending machines with rental films in. I questioned whether that was going to be a good idea during my training but got told "oh they're built by the same people who built Israel tanks, they're going to be secure" only to find out years later that, as I thought, they got broken into and the films stolen.
Plus the staff kind of stopped giving a shit, compared to my current job which:
1) Pays me more.
2) Gives me Christmas, Boxing day, New years day and Easter Sunday off, compared to Blockbusters which only grudgingly closed on Christmas Day.
3) More paid holiday.
4) More paid sickleave.
5) If I stick in the job I get a 4 grand bonus on the fourth year AND I get a yearly pay rise.
The upper-managements attitude was pretty much 'fuck the staff, you're all expendable, be grateful we gave you a job' which just creates an atmosphere where people are outright trying to fuck over the company at every turn.
One wonders where he will return it to.