Do you remember in you a long time ago your area having a local video store? In the village I lived in we had two a Betamax and a VHS. Both were run ‘part time’, one was in an off licence the other in an ‘open all hours’ store.
Not a fantastic collection but run on a honesty type of operation, if you return a day late it was no bother. As the growth of ownership in video players grew so did their business.
However in the background big brother or Blockbuster came along and shut them down by either buying them up or getting the video makers to only sell to them. The operation was rigid with fines for late return, snooty staff and overpriced popcorn and sweets. Well now its their turn!
Video/DVD rental chain Blockbuster Inc filed for bankruptcy as part of a pre-arranged deal with bondholders that would slash the company's debt by about $900 million. The company's senior debt holders have agreed to support the plan and provide $125 million in "debtor-in-possession" (DIP) financing to help support Blockbuster's operations while it is under bankruptcy.
Internet downloads no doubt taking business away. Lol. What comes around goes around.
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