FamilyVideo chain finally ending its long run

FamilyVideo, thesuburbanChicago-based video rental chain that outlasted Blockbuster, VHS tapes and the “be kind rewind” mantra, is closing its stores and calling it quits after 42 years.

The chain, which survived the advent of online video by locating its bricks-and-mortar stores and DVDrentalofferingsinsmalltowns across the Midwest, announced that its business had fallen victim to the pandemic.

“The impact of COVID-19, not only in foot traffic but also in the lack ofmovie releases, pushed us to the end of an era,” said Keith Hoogland, CEO of Highland Ventures, ownerofFamilyVideo, inan open letter posted on itswebsite.

Family Video is closing its remaining 250 stores and liquidating its inventory, including DVDs, candy, popcorn, CBDproducts and even the shelves.

Founded in 1978, Family Video went fromrenting Betamaxtapes to VHS to DVDs over the years, and grew to an 800-store chain at its zenith. The company, which owns most of its retail real estate, evolved the business model, partnering withMarco’s Pizza in 2015 to give customers another reason to venture out for their video entertainment.

But video rental sales have been declining for years as consumers turned to online streaming services such as Netflix. That evolution marked the death knell for larger competitors such as

Blockbuster, which announced it was closing its corporate-owned stores in 2013.

Family Video has been shrinking in recent years as well.

Its exit leaves Redbox as one of the fewalternatives for thosewho can’t let go of the hands-on experience. Founded in 2002 by hamburger giantMcDonald’s as a vehicle to drive traffictoits restaurants, Redbox has more than 41,000 of its ubiquitous video rental kiosks scattered at supermarkets and retail locations across the country.