Why are several BlockBusters being closed permanently?

Several Blockbuster stores are closing permanently due to a combination of factors, including:

- Changing Consumer Habits: The rise of streaming services and digital media has significantly impacted the demand for physical media. Consumers now prefer to stream or download movies and TV shows rather than purchasing DVDs or Blu-rays.

- Competition: Blockbuster faces intense competition not only from streaming services but also from other retailers such as Walmart and Amazon, which offer a wider range of products and services at competitive prices.

- Declining Sales: As a result of changing consumer habits and competition, Blockbuster has experienced a decline in sales over the past decade. This decline has made it difficult for the company to sustain its operations.

- High Costs: Operating a physical retail store involves significant costs, including rent, utilities, staff salaries, and inventory management. These costs have become increasingly challenging for Blockbuster to cover amidst declining sales.

- Bankruptcy: In 2010, Blockbuster filed for bankruptcy protection, which led to the closure of hundreds of stores. While the company emerged from bankruptcy in 2011, it continued to face financial challenges and store closures.

In summary, the permanent closures of Blockbuster stores are primarily driven by changing consumer habits, competition, declining sales, high costs, and the company's financial struggles.