Family Video Calls It Quits, Closing All Locations Nationwide
In a shocking surprise to no one, Family Video is joining Blockbuster and Hollywood Video for retirement. Even with Family Video's "Save The Video Store" campaign and attempting to sell CBD oils, there's no cure for the wound caused by our on-demand lifestyle. However, the company is using the COVID-19 pandemic as the straw that broke the camel's back, according to FOX 8, Cincinnati.
While we have faced digital competition from Netflix and others for years, nothing has been as devastating to our business as Covid-19.
CBS News reports the pandemic's hit on Hollywood is also a contributing factor.
Despite having to close its locations along with other non-essential retailers for 60 days starting in March, the chain was also impacted by film production disruptions and release delays due to the pandemic.
Even after Blockbuster and Hollywood Video closed their doors, it seemed like nothing to knock Family Video. Unfortunately, that isn't the case. But, truthfully, the demise of Family Video was evident when stores began transforming into Dollar General stores.
The remaining 250 stores nationwide will begin liquidation sales on movies, video games, and display cases and racks in the store. Oh, and CBD products too.