The lights went out on Family Video, the 42-year-old Midwestern network that continued same as Blockbuster and Hollywood Video went bankrupt.
The company said on Tuesday that its more than 250 stores across the country will conduct settlement sales, offering deals on films, video games, CBD products and store accessories.
While streaming services and other online rivals have damaged their business and helped to bring an end to other video networks, it was the coronavirus that proved to be the final bane of Family Video.
In addition to having to close its stores, like other non-essential retailers, for 60 days from March, the chain was also affected by interruptions in film production and delays in launching due to the pandemic.
“Although we have faced the digital competition from Netflix and others for years, nothing has been as devastating to our business as Covid-19“said the company in a press release distributed to various media.
“We are very grateful to have provided entertainment for many family movie nights,” said Keith Hoogland, CEO of Highland Ventures, the Glenview, Illinois-based company that owns Family Video, in a statement.
Founded in 1978, the chain started in 2020 with 510 locations, but had to close about half by the end of the summer.