It has shut down Family Video, the 42-year-old Midwest network that went on to continue even as a Blockbuster and Hollywood Video crashed.
The company said Tuesday that its more than 250 stores nationwide will maintain clearance sales, offering deals on movies, video games, CBD products and store accessories.
While streaming services and other online rivals have long plagued their business and helped cause other video channels to disappear, it was the coronavirus that turned out to be the final undoing of family video .
In addition to having to close its locations, like other non-essential retailers, for 60 days from March, the chain was also affected by interruptions in film production and delays in publication due to of the pandemic.
“While we’ve been facing competition from Netflix and others for years, nothing has been as devastating to our business as Covid-19“the company said in a statement distributed to various media outlets.
“We are very grateful to have been able to offer entertainment during many family movie nights,” Keith Hoogland, CEO of Highland Ventures, the company based in Glenview, Illinois, which owns Family Video, said in a statement.
Founded in 1978, the chain began in 2020 with 510 locations, but had to close about half by the end of summer.