Business

Feb 26, 2011 12:55 PM by Matt Stafford and Andy Koen

Blockbuster closes 5 local stores

Once the king of home video rental companies, Blockbuster Video announced this week that it will close five stores in the Pikes Peak Region. Four of the stores are located in Colorado Springs; at Constitution and Powers, Fillmore and Nevada, Centennial and Vindicator and at Circle and Galley. The fifth is located along US Hwy 24 in Woodland Park.

According to the Gazette the stores are no longer renting videos and are selling off their inventory.

The closures caught shopper David Bertolino by surprise. "These places back in the day were like 7/11's they were everywhere," Bertino said. "One by one they're closing down and it's kind of a shame."

The store at Nevada and Fillmore will close mid March, the others will close in April.

Blockbuster filed for Chapter 11 bankruptcy protection back in September. At the time, executives with the company announced that they would close between 500-800 of their 3,425 US stores. The company announced on Monday that it had agreed to sell itself to it's creditors for $290 million dollars.

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