Family Video Announces They’re Closing All Remaining Stores
Remember a time when on a Friday night, you'd grab a pizza and stop by the video store to grab a new release to watch that night, and probably again early Saturday before you had to take it back to the video store? Those were the days.
Interestingly, in the Michigan area, we've still had the opportunity to sort of re-live those memories by stopping into Family Video and still renting a movie or game, and recently also grabbing some of the CBD products you've needed. Well, those are about the be the days of old as well as Family Video has announced they'll be closing the remaining 205+ locations they still have open.
As UpperMichiganSource.com reports, the company announced they'd be closing their stores and selling all remaining movies, video games, and CBD products as well as selling the store fixtures. According to the story, all the remaining stores have started liquidation sales. As Keith Hoogland, CEO, Highland Ventures, LTD, who owns Family Video told the news outlet,
“We are very thankful to have been able to provide entertainment for many family movie nights, and want to thank the people of Toledo and our incredible staff for the many years of support and service.”
Officials for Family Video tell UpperMichiganSource.com that losses from the COVID-19 pandemic are what led the company to close up, saying none of the other competition, including digital competition like Netflix, did as much to destroy their business as the coronavirus did.
According to Wikipedia, in 2000, there were 27,882 video stores in the U.S.; by 2017 that number was down 86% to 2,140. Soon it will be even lower.