This beloved chain closes all its stores

The "last man standing in [the industry" closes its 250 sites remaining.


It's a sad day for lovers of America's movies likeFamily video, one of the last relics of the film rental scene announced that itsThe remaining shops will closing. The parent company of the Chain, Highland Ventures Ltd, announced on January 5th that the 250 family video stores still standing around the country are fixed nearby. "Although we have confronted Netflix's digital competition and other years, nothing has been tooDevastating to our company Like Covid-19, "Keith Hoogland, CEO of Highland Ventures, said in a statement. "We are very grateful to have been able to provide entertainment for many nights of family cinema." Insert more information on closing family video and another troubled company, discoverThese two beloved department stores are "slowly, dying slowly".

The news comes only three months after almost almostHalf of the 510 family video locations The company had at the beginning of 2020 were closed, Highland Ventures Ltd announced in October. "You may have heard that we would closing the locations ... It's true. We enjoyed serving as many communities over the years, but recent events led us to make some commerce decision [S], "said the company in a statement at the time.

In January 5 of Hoogland. Statement published on the Family Video website and Facebook page, he notes that the chain survived the "Big 3" of the nation's film rental companies: Blockbuster, movie gallery and Hollywood video. But unfortunately, "the impact of COVID-19, not only in the traffic of the feet, but also in the lack of films of films, pushed us at the end of an era," added Hoogland.

The last day for rent in Family Video is January 6 and the shops will close "Once all items are sold", which includes all of the luminaires to gumball machines snacks. The company's website, FamilyVideo.com, will remain open where they will "continue selling movies, CBD products,T-shirts, memories and more. "

Family Video was launched for the first time in 1978, originally in the form of video video film in Springfield, Illinois, before rebroadering its current name. He had more recently stores on 17 states: Iowa, Illinois, Indiana, Kansas, Kentucky, Michigan, Minnesota, Missouri, North Carolina, Nebraska, Ohio, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas and Wisconsin.

"We enjoyed being part of the life and communities of our employees and our clients for 42 years," Hoogland said in his statement. "I am extremely grateful to our employees and our instrumental customers in the success of family video. Without you, we would not have been the last man standing in our industry."

Continue reading for more news about other famous channels that end and for another business that has problems, checkThis popular clothing chain has just announced that it closes 100 additional stores.

Read the original article onBetter life.

1
Cm

The largest cinema chain of America has beenStave bankruptcy Throughout 2020 as a result of the forced closure, a lack of new films and a foot limitation that hammered it financially. Under the pressure of investors to enter bankruptcy, the latest news on December 30 are that the CMA is trying to combat the filing of Chapter 11 by offering 50 million other actions, according toBloomberg. And for more information on one of its competitors, checkThis major cinema chain has just announced that it closes all places.

2
Gamestop

the entrance of a Game Stop store in a mall in Kokomo, Indiana
Refuge

TheThe largest video game retailer in the world Farm 1,000 stores by 2021. While the pandemic did not help things, the problems of Gamestop prior to Covid-19. In 2018, the channel reported an annual net loss of $ 485 million. The mark was affected by the passage of physical games to digital offers triggered by the launch of the Xbox One and PlayStation 4. and for more information on the latest retail news,Sign up for our daily newsletter.

3
Social bowl punch

Punch Bowl Social at dawn on a wet morning in The Domain in Austin, Texas.
MARTIN LEITCH / ALAMY Stock Photo

The "eatery" chainfiled for the bankruptcy of Chapter 11At the end of December, despite an investment of $ 140 million from the Cracker Barrel. The company, which has 20 locations, has liabilities of $ 10 million and $ 50 million. "In a tale now too familiar, accounts receivable companies were immediately and significantlynegatively affected by COVID-19, "According to the business of online restaurants," unfortunately, "unfortunately, because of the restrictions limiting the number of customers at each place, as well as the malaise of the public to go out to eat or drink in public during a pandemic, each of these places wasLosing money on a daily basisAnd for another beloved restaurant in a difficult place, checkThis beloved catering chain just dropped bankrupt .

4
In shape

In-Shape gym
In shape

California Gym Group shaped Filing for the bankruptcy of Chapter 11 in mid-December after more than 40 years of activity, blaming State-wide state closures that have revenues "dramatically in shape]". The good news is that the channel expects to cross a restructuring "with a smaller and more targeted portfolio of about 45 California clubs." And for another gym in a worse situation, check This popular gym closes all its locations .


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