Dave Horvath
4 Jan 2007 6:24
Movie rental giant Blockbuster announced that it has officially closed its last store in Peru. Faced with slumping sales and a continuing loss of a customer base forced the rental outlet to close the doors of all stores within the country of Peru. Just two years ago, El Comercio said Video International Peru operated some 12 Blockbuster franchises. Now there are none.
A Blockbuster representative stated that piracy can be blamed as the biggest factor in the closing. In a part of the world where pirated DVDs can be purchased on the corner for $1 instead of rented at Blockbuster for easily double the price, its no wonder they closed down. Blockbuster executives confirmed that their Peruvian presence is gone and they have no plans in the future for additional developments within the country.
Source:
Reuters