“Some of the approximately 300 stores are reaching the end of their lease and others are closing based on overall performance,” company spokesman John Hall says.
Blockbuster put any number of local video stores out of business in rural areas, and now the Blockbusters are closing. I know if you want to rent a movie anywhere near where I grew up in Maine right now, you'll have to go to a Redbox, which means you will only be able to select from a very narrow cluster of recent mainstream movie releases. There are still quite a few people in this country who do not have the bandwidth—or the willingness—to rent movies online, and even then, the movies available through iTunes and Amazon's streaming service tend to be recent, mainstream releases. This is what happens when you rely on a single corporate entity for anything, be it Blockbuster or Borders Books & Music or Netflix or Amazon.com.