Friday, November 1, 2019

Toronto's most famous video rental store announces sudden closure and liquidation

Like a number of Toronto's indie video rental shops that have gone by the wayside in recent memory, Videoflicks has announced that it's closing down after nearly 40 years in business.

The store — which was known for being open 365 days a year — shuttered once before at the end of 2017, but reopened under new ownership in August 2018.

It seems that this time, it's unfortunately going for good, as owner Bill Bougadis announced in a Facebook post this week.

"We have kept our inventory recent and our prices low. Unfortunately, our financial commitments have got ahead of us, and we’ve made the decision to cut our losses and close the business," the post reads.

The Avenue Road and Lawrence Avenue West staple was known for buying and selling new and used VHS movies, DVDs, records, video games, books, comic book memorabilia and more.

The closure means a massive inventory sale for customers, as well as the launch of a crowfunding campaign to help the store's owners recoup the losses they incurred while trying to keep the unsustainable business afloat.

"We are beyond grateful to the customers and friends who have supported us over the years," the Facebook post continues. "We are honoured to have been a part of your movie nights, your date nights, your horror fests, your TV binges, your popcorn cravings, and your neighbourhood. You all mean the world to us."

The store will be sorely missed by the neighbourhood, and vice versa, but its farewell post indicates the owners may have "future projects" in mind.

The liquidation sale runs through today until 10 p.m. at 1701 Avenue Road.


by Becky Robertson via blogTO

No comments:

Post a Comment