The lights go out at Family Video, the 42-year-old Midwestern chain that continued even like Blockbuster and Hollywood Video went bankrupt.
The company said on Tuesday that its more than 250 stores nationwide will hold liquidation sales, with deals on movies, video games, CBD products and store fixtures.
While streaming services and other online rivals have long dented their businesses and contributed to the demise of other video chains, it was the coronavirus that turned out to be the final destruction of Family Video.
In addition to the closing of the locations, like other non-essential retailers, from March for 60 days, the chain was also impacted by interruptions in film production and release delays due to the pandemic.
“While we’ve faced digital competition from Netflix and others for years, nothing has been more devastating to our business than COVID-19the company said in a press release distributed to multiple media outlets.
“We are very grateful to have been able to provide entertainment for many family movie nights,” Keith Hoogland, CEO of Highland Ventures, the Glenview, Illinois-based company that owns Family Video, said in a statement.
Founded in 1978, the chain started with 510 locations in 2020, but had to close down about half by the end of the summer.