Carlsbadistan’s Only Blockbuster Is Closing

The banners that went up Friday, February 25, 2011, outside the Blockbuster video rental store at 660 Carlsbad Village Drive say “Store Closing. This Location Only.” But that’s not really true. According to a Reuters story the company plans to close 182 of it’s remaining 2,900 stores in the first quarter of 2011 as part of its bankruptcy reorganization. The company has shut down more than 1,000 stores in the past two years.

Blockbuster filed for bankruptcy in September, weighed down by its debts and stung by video-on-demand and competitors such as mail-order pioneer Netflix and Redbox, a Coinstar Inc unit that rents movies through kiosks. . . The company entered bankruptcy with a plan that would put billionaire investor Carl Icahn and his hedge fund partners in control of the company when it emerges.

So what exactly does “This Location Only” mean? According to an employee at the Carlsbad store it means, “That only this location is closing, not all of Blockbuster.” We’re guessing those same banners hang on more than a hundred stores this week.

We switched over to digital rentals years ago, but for those who haven’t there is a bit of good news. All the DVDs in the store on sale for $9.99 each and new releases are being sold at ten percent off. Get them while supplies last. As for Blockbuster it’s difficult to imagine a scenario in which they emerge from bankruptcy and return to any kind of profitability.