Goodbye, store of my misspent youth.
A piece of my childhood will die next month. The LA Times reports that executives from Blockbuster and six of their chief debt-holders have been meeting with major Hollywood studios this week in order to warn them of a pre-planned Bankruptcy declaration in September.
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The bankruptcy process should last around 5 months. Blockbuster hopes to escape leases on some 500-800 of their worst-performing stores. They intend to continue receiving new DvDs during this time and hope to keep the company afloat by transitioning to other, non-retail initiatives. Blockbuster kiosks, internet and mail renting are listed as future avenues for the brand.
When I was a kid and a teenager, Blockbuster stores held a certain magic. I remember stumbling upon many gems in the back of their comedy section. I discovered Life of Brian, the Monty Python collection, Steve Martin's The Jerk and, of course, the work of Mel Brooks within those racks of VHS tapes and (later) DVDs. A part of me is sad to see this titan of my youth die. But the greater part of me is glad something much, much better came along to replace it.
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