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According to a report by Los angeles Times, Blockbuster Video is planning for bankruptcy next month. The report further says that the plan was designed by Blockbuster so that they can get out of the leases on perhaps 800 underperforming stores. The company already closed 100 retail stores last year. The chain operates more than 3,400 stores.Those days are gone that you can drive a video store to rent a movie. For the last several years, Blockbuster has closed stores, laid off thousands, and generally been tending towards extinction.