As a former multiple-franchiser owner, Alan Payne is familiar with Blockbuster; he had owned over 40 stores in Alaska and Texas. Early on, however, Payne said he noticed issues with how the company had been operating. At its peak, there were over 9,000 Blockbuster stores around the world and many of the stores were corporately owned.
While it appeared that Blockbuster was growing, Payne said he identified many financial flaws. In 2010, Blockbuster declared bankruptcy, and by 2014, all corporate-owned stores had shuttered. Payne watched as each of his stores shut down and in 2018, Alan saw his last stores in Alaska close.
On this episode of What Happened To...? Erica Vella speaks to Payne about the rise and fall of Blockbuster and finds what caused the once-global brand to disappear. She also speaks to the general manager of the last Blockbuster to hear how she kept her store running.
Contact:
Email: erica.vella@globalnews.ca
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