Blockbuster closing Springfield store, others

Eric Olson, SBJ EditorI received word this weekend that the Blockbuster video store on Independence Street in southeast Springfield is closing. My Blockbuster employee source says it could happen as soon as next month.

Now, Forbes is reporting the publicly traded Blockbuster Inc. chain (NYSE: BBI-B) is among several retailers with plans to slash store locations in 2010.

Financial analysts predict a bankruptcy filing this year will be Blockbuster’s final curtain call, after years of slumping stock prices, down to its current 36 cents per share. Chapter 11 speculation haunted Blockbuster throughout much of 2009, and the company continually denied it was headed to a filing.

If the analysts are right, give the victory to newcomers Netflix and Redbox, who are stealing the DVD rental show. To put it into perspective, with $1 right now, you could buy almost three shares of Blockbuster stock or rent one Redbox DVD.

View the Forbes slide show, Who’s Closing Stores in 2010?


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