Only last week we had the news that Jessops has gone into Administration and then yesterday HMV the entertainment retailer announced its plans to do the same. I'm also pretty sure that some of you also had the conversation around "who's going to be next?" in some sort of retail Dead Pool.
However, I don't think anyone was expecting an announcement within 24 hours that another major retailer had gone the same way. But today it was announced that Blockbuster, the video and game rental chain has gone into Administration too, making that three large High Street operators already this month.
There's no doubt that Blockbuster faced increasing competition from Internet-based services such as LoveFilm, as well as the overall trend of downloading and streaming movies and even games via the Internet. Blockbuster did make in-roads into a streaming service, but this functionality was not available outside the United States.
http://www.blockbuster.com/download
A lot of commentors will no-doubt mention that this result has been predicted for some while, but I think this episode from South Park a while back pretty much sums up the situation...
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