36. Family Video
Year Established: 1978
Store Closures: 200 Branches*
One of the final chains selling DVD rentals was Family Video, located in Illinois. The chain said that it will be closing 200 of its stores and that Family Video would no longer be available in many places by 2021 due to “tough business decisions” resulting from poor sales in 2020. There are only 400 left. It’s a wonder Family Video has survived this long when everyone recalls the fall of Blockbuster Video and other comparable chains. Forbes attributed the longevity of the “last video chain[‘s]” to its straightforward business strategy. The retail chain’s valuation was $750 million in 2017, but by 2022, that figure is probably going to change.
36. Family Video
37. OfficeMax
Year Established: 1988
Store Closures: 90 Branches* (Over the next 2 years)
OfficeMax, which also has stores in Mexico and Canada, is a major office supply retailer in the United States, much like its parent business Office Depot. Established in the latter part of the 1980s, the company merged with Office Depot in 2013. After experiencing declining sales in 2019, OfficeMax closed a number of its shop locations, and it is rumored that it would close an additional 90 locations over the following two years. It is believed that the liquidation is an essential step toward helping the business recover and reach its profit targets.
37. OfficeMax
