Not surprising. As others have mentioned, Blockbuster’s business model is just not cutting it anymore. Between online/on-demand services low overhead competitors like Redbox, there’s just not a lot of reason to go to a Blockbuster anymore. A local place might be able to survive by finding a niche - rare/foreign films for the cult classic-minded, for example - but I just don’t see that being enough of a draw to keep BB afloat. I doubt it will still be in business, at least in its present form, in five years (if that).
I know a guy who was a programmer for a new system they were going to have where they could rent and return DVDs by mail, just like Netflix, only before Netflix existed. They cancelled the project after it was finished.