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?

View Results

Loading ... Loading ...

Leave a Reply

43 Comments on "Blockbuster Hoboken: Doomed"


Member
ShoeGal318
5 years 11 months ago

I was at a blockbuster in another state and all their rentals had gone down to $1/day to compete with Red Box. Maybe Hoboken’s should do the same.

Member
plywood
5 years 11 months ago

Our decent into a cultural wasteland accelerates unabated. It is indeed a terrifying thought that the only way to get a DVD “on the spot” in Hoboken soon may be dealing with the lackluster selection of the DVD Xpress machine in the A & P. If you think the lame selection of “new releases” is usually “out of stock” now, just wait. We’ll all be in a longer line pressuring someone to “hurry up and make a selection” through body language only to learn that the movie we want isn’t in the machine anyway. At least watching the exit door open and close since we are standing in the sight of the motion sensor will keep us awake, as well trying to avoid people leaving the store with a loaded cart. Red Box at Shop Rite is more or less the same story.

In response to ShoeGal318 who said:
I was at a blockbuster in another state and all their rentals had gone down to $1/day to compete with Red Box. Maybe Hoboken’s should do the same.

Member
5 years 5 months ago

I guess the idea behind these kiosk machines as that they could be everywhere not just in A&P and Shoprite. If they put them in more places like CVS, 7-11 and the other bodegas like they do with cash machines it would be pretty convenient. Regardless, BB is dead. It’s just a matter of time.

In response to plywood who said:
Our decent into a cultural wasteland accelerates unabated. It is indeed a terrifying thought that the only way to get a DVD “on the spot” in Hoboken soon may be dealing with the lackluster selection of the DVD Xpress machine in the A & P. If you think the lame selection of “new releases” is usually “out of stock” now, just wait. We’ll all be in a longer line pressuring someone to “hurry up and make a selection” through body language only to learn that the movie we want isn’t in the machine anyway. At least watching the exit door open and close since we are standing in the sight of the motion sensor will keep us awake, as well trying to avoid people leaving the store with a loaded cart. Red Box at Shop Rite is more or less the same story.

Member
plywood
5 years 11 months ago

Hey, even Sam Goody threw in the towel on Hoboken, and their store was 1/5 the size. Hoboken is a Netflix kind of place, and they’ll be out of business in 5 years when it all goes virtual. It used to be there was”ressentiment” against chain stores in Hoboken, but now even they can’t or don’t care to make the numbers work here. Same in the Manhattan. 8th Street (near 6th Ave for example) is now a self-parody, etc.

Member
db803
5 years 11 months ago

I really like walking to Blockbuster whenever I feel like watching a movie. I tend to watch movies when I feel like it, rather than be excited about a movie coming out. The convenience of walking a few blocks to browse and pick out a film is what entices me. Netflix will never be able to fill that niche.

If FiOS had a larger selection, I think I’d prefer just renting the video on the TV.

Member
matt1122
5 years 11 months ago

I certainly hope they don’t close. I’ll have to cancel my Blockbuster Online subscription if they do.

Member
5 years 11 months ago

I had a Blockbuster Online subscription for 2 years and just canceled it a few months ago. They kept raising their prices and lowering their services.

Member
5 years 11 hours ago

And I’ve since gone with Netflix which is much cheaper than Blockbuster’s more expensive knockoff. [quote comment=”172600″]I had a Blockbuster Online subscription for 2 years and just canceled it a few months ago. They kept raising their prices and lowering their services.[/quote]