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Blockbuster Bankruptcy News

The Most Shocking Effect of the Recession in 2010

Another year passes, and more tales of bankruptcies and unexpected aftereffects of the recession emerge. It was a close call, but SavvySugar readers voted Blockbuster going bankrupt as the most shocking effect of the recession this year. Blockbuster beat out surprising trends like single, older women moving in together to save money, millionaires gobbling up McDonald's to budget, libraries turning into for-profit entities, as well as Warren Buffett saying we should tax the super wealthy (like himself).

It seems that although people are turning to online rentals and streaming services because of convenience and speed, Blockbuster still holds a special place in America's heart. I'm sure plenty of you have great memories of the famous blue and gold store and are used to seeing it around. However, changing times means a change of guards, and Netflix now holds the title as the gatekeeper to entertainment. I'm betting former Blockbuster CEO John Antioco regrets laughing at and turning down Netflix's offer to partner up in 2000.

Source: Flickr User jswafford


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