Blockbuster Hoboken: Doomed

2/12/2011 Update:

Blockbuster begins Hoboken phase out

We all already know that Blockbuster Video is closing their Hoboken location (amongst many others).

They recently started the inventory clearance, and hung this massive banner on the storefront. I just found it very funny that they had to clarify that it was “this location only.”

See previous Blockbuster history after the jump…

1/21/2011 Update:

Damn that internet: Killing Blockbuster slowly!

Hoboken411 reader Zachary mentioned that the Hoboken Blockbuster will be officially closing stopping rentals on February 3rd, 2011, And closing a few weeks afterward. And I thought they’d hang on just a bit longer.

12/21/2010 Update:

Hoboken Blockbuster possibly still safe?

Blockbuster Video announced yesterday that they’ll be closing an additional 182 stores in the next couple months.

Hoboken411 took a look at some of the recent Blockbuster court documents – and spotted close to 20 stores in New Jersey where the leases will not be renewed. Hoboken wasn’t listed – but those cities included: Burlington, Carlstadt, Fort Lee, Gillette, Lakewood, Livingston, Logan Township, Middletown, Millburn, Morristown, Paramus, Pennsville, Ramsey, Raritan, Roseland, Turnersville, Verona, West Orange and Westwood. Not sure if these are the final locations closing or not.

Old school video renters in Hoboken might be a bit happy!

9/2/2010 Update:

Over 500 stores might close; will Hoboken be one?

The Blockbuster Bankruptcy possibilities that have been rumbling this year are starting to remind me of the Brett Favre retirement stories. At one point, it was rumored that restructuring plans would be announced in mid-September, but now that’s been pushed back to the end of the month while they try to pay off debt.

Blockbuster, which is now publicly traded over the counter (BLOKA) is currently about 7 cents a share (down from about 20 cents a share earlier this summer). Their market cap is right in line with Hoboken’s Budget Surplus.

As part of the potential bankruptcy filing – Blockbuster would be able to get out of any property leases – including the giant space at 412 Washington Street.

I’m still not sure how Blockbuster could survive. With video on demand and DVR’s – hasn’t the need for physical media practically been eliminated?

6/24/2010 Update:

Like a slow, painful death – it seems that Blockbuster Video is hanging on as long as they can…

From business blog B-Net:

Is Blockbuster ignoring the inevitable?

“With Blockbuster’s annual meeting coming up in just a couple of days and the company teetering on the brink of bankruptcy, company CEO Jim Keyes is keeping the water churning up to the last minute. He gave a blithe, clueless interview to the Dallas Business Journal last week in which he insisted everything was really just fine at the video-rental giant, though he had no news on whether a financial rescue might be in the offing. At the same time, the company issued its second filing in two weeks essentially begging shareholders to ignore a fed-up investor who’s trying to win a board seat.”

Do you think Blockbuster’s doom is certain? Or will they survive?

Blockbuster Considers Bankruptcy Filing

3/19/2010 Update:

In an update to this story from six months ago – Blockbuster made news this week:

“In its annual report filed Tuesday, Blockbuster said its declining sales and cash flow, coupled with increasingly competitive industry conditions, “raise substantial doubt about our ability to continue as a going concern.” Blockbuster provided similar warnings nearly a year ago before it was able to refinance its long-term debt in the fall.”

Their annual report indicated that they suffered a more than $400 million dollar loss in the 4th quarter, and are close to a billion dollars in debt.

How much longer can they hang on?

blockbuster-video-hoboken-nj

9/21/2009:

Is Hoboken’s Blockbuster doomed?

Last week – Blockbuster made the news – indicating that despite trying to re-invent themselves over and over – are still suffering. They plan to close over 800 more stores before the end of 2010.

The simple question of the day is:

Will Blockbuster close before the end of 2010?

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43 Responses

  1. Craig-D says:

    I can confirm that the Hoboken Blockbuster is indeed closing. The last day to rent a movie is February 3rd and then the store will actually close on March 13th after they try to sell off everything in the store. They tried to renegotiate the rent with the landlord, but the landlord wouldn’t budge, so Blockbuster is gone. The current rent for that space is $27,000 a month!

    This is a sad day for movie affectionados. Now if I want to rent a Blu-ray disc, I’ve got to wait a few days for it to arrive in the mail from Netflix and time it so that it arrives in time for the weekend.

    • prag says:

      Another vacancy along Washington street. Looks like it may sit like that for a while.[quote comment=”202685″]I can confirm that the Hoboken Blockbuster is indeed closing. The last day to rent a movie is February 3rd and then the store will actually close on March 13th after they try to sell off everything in the store. They tried to renegotiate the rent with the landlord, but the landlord wouldn’t budge, so Blockbuster is gone. The current rent for that space is $27,000 a month!This is a sad day for movie affectionados. Now if I want to rent a Blu-ray disc, I’ve got to wait a few days for it to arrive in the mail from Netflix and time it so that it arrives in time for the weekend.[/quote]

  2. bwe790 says:

    I went by this weekend hoping to get some deals on movies. If you go to buy from their “sale” make sure the box you grab off the rack actually has a DVD in it. They are literally selling the empty boxes, rack cards, etc. If it doesn’t have a DVD in there, it’s a $10 empty box..no joke.

  3. escaped68 says:

    The recently closed blockbuster near me wasn’t empty for very long, Construction of a 7-11 is well under way. Maybe there is hope for that spot.

  4. molly says:

    i didn’t know where to post this but a very disturbing incident i witnessed on 4th and hudson st, by stevens across from the park, a nanny of color maybe jamaican, was wheeling a beautiful little toddler in a red carriage at noon time crossing the street the carriage flipped head first the nanny never checked the child still in the street shaking the wheels of the carriage, i am screaming like a maniac she is ignoring me so check your child for any face brusies and check out your nanny’s, because this one did not care about the child only worried about bending the wheels on the carriage, oh god,
    so disturbing

    • Irish says:

      well the blockbuster thread is CLEARLY the best place to post your observation Molly. :roll: [quote comment=”203627″]i didn’t know where to post this but a very disturbing incident i witnessed on 4th and hudson st, by stevens across from the park, a nanny of color maybe jamaican, was wheeling a beautiful little toddler in a red carriage at noon time crossing the street the carriage flipped head first the nanny never checked the child still in the street shaking the wheels of the carriage, i am screaming like a maniac she is ignoring me so check your child for any face brusies and check out your nanny’s, because this one did not care about the child only worried about bending the wheels on the carriage, oh god,
      so disturbing[/quote]

  5. molly says:

    irish, it didn’t matter where i posted it, clearly you are a f**cking idiot and i hope you don’t have any children this was a BABY and if she didn’t take off i would have punched her in her fu***king face, as**hole

  6. escaped68 says:

    Some one here is off her meds.

  7. Irish says:

    bwahahahahaha oh molly you are a card, nice come back and in the future go put your stuff in the rant corner. TIA :mrgreen:

  8. molly says:

    yes, that would be an ace, for the rest of your rant i don’t speak yuppienese
    only hoboken street talk of 5 generations
    and like i said before you can go ………..yourself, idiot

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