Guam News - Guam News

Guam - After more than 20 years on Guam, Blockbuster will be officially closing its 2 Guam rental stores effective April 4th.

The Manager of the Tamuning store, Kevin Taitague, says that movie rentals at the Tamuning store actually ceased just after Christmas and the store has been selling off its stock of movies.

Rentals at the Dededo store will end March 4th he said, and then that store too will enter liquidation, selling off its stock of movies as well.

Taitague said the Dededo store was opened in 1989. The Tamuning store has been open since 1993.

Because of competition from other video rental companies such as Netflix, Blockbuster has undergone significant revenue losses.

According to Wikipedia, Blockbuster filed for bankruptcy on September 23 of  2010.  On April 6 of last year Blockbuster was purchased at auction by satellite television provider Dish Network for $233 million. Dish also assumed Blockbuster's $87 million in liabilities and other obligations.