It’s been a pretty bad week for high street retailers. Earlier this evening it was announced that HMV Ireland has been put into receivership only a couple of days after the company was put into administration.
Also today Blockbuster in the UK announced that they have gone into administration. The company has over 500 stores and employs over 4000 staff. Blockbuster in the US went bankrupt in 2011.
Meanwhile digital media streaming services like NetFlix are performing well – in fact they’re outperforming expectations.
I’d have to be honest. While I still buy some films on blu-ray I can’t remember the last time that I rented a film from Xtra-vision. As for buying DVDs etc., on the high street.. I still do it, but I’m more likely to grab something in a supermarket unless I’m travelling abroad.
These days I have a Sky subscription, which I don’t use that much, a Netflix Ireland subscription and iTunes (via the Apple TV).
Do you think that these high street retailers were going to fail? Or do you think there’s something else at play?
- Fears for 4,200 jobs as Blockbuster goes bust (thetimes.co.uk)
- HMV Stores Close, Planned To Be Re-Opened (theblend.ie)