DVD rental firm Blockbuster has become the latest UK High Street firm to go into administration after struggling against online competitors. The first Blockbuster store in the UK opened in south London in 1989 – the chain has 528 stores and employs 4,190 staff.
The chain’s collapse, which puts 4,190 jobs at risk, follows that of music retailer HMV and will be seen as yet another sign of the devastating impact of the internet on bricks and mortar retailers.
The rising popularity of internet film rental services like iTunes and Lovefilm have taken their toll on Blockbuster’s 528 high street video rental stores.
Blockbuster’s problems were all too similar to those hitting other retailers – failure to adapt quickly enough to a changing business environment and consumer habits.
Can anything stop the internet from huffing and puffing and blowing brick and mortar down?
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The devastating impact of the internet on bricks and mortar — http://www.torbenrick.eu/t/r/ecb
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