Video rental chain shuts after 42 years
Family Video, the suburban Chicago-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 stores and DVD rental offerings in small towns across the Midwest, announced Monday that its business had fallen victim to the pandemic.
“The impact of covid-19, not only in foot traffic but also in the lack of movie releases, pushed us to the end of an era,” said Keith Hoogland, chief executive officer of Highland Ventures, the Glenview-based owner of Family Video, in an open letter posted on its website Monday.
Family Video is closing its remaining 250 stores, including 30 in Illinois, and liquidating its inventory, including DVDs, candy, popcorn, CBD products and even the shelves. The last day for movie rentals was Wednesday.
Founded in 1978, Family Video went from renting Betamax tapes to VHS to DVDs over the years, and grew to an 800-store chain at its zenith.
— Chicago Tribune (TNS)
Soy-protein patties join Tyson lineup
Tyson Foods Inc. on Wednesday debuted its Jimmy Dean breakfast sandwiches made with soy-protein patties.
The plant-based products, designed to taste like a breakfast sandwich with meat, are part of Tyson’s ongoing strategy to expand its protein offerings.
According to the nation’s largest meat company, grocery sales grew 148% during the pandemic, with many Americans choosing to cut their meat intake with plant-based substitutes.
Scott Glenn, Jimmy Dean’s senior director of marketing, said in a written statement that “expanding our portfolio to provide people with alternative choices was critical.”
Historically a chicken processor, Tyson flirted with alternative proteins and brought to market its blended burgers and nuggets made of pea protein in 2019.
The company’s latest plant-based breakfast sandwiches are available at Sam’s Club stores around the country.
— Nathan Owens
Index jumps 18.46, closes at 502.42
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, closed Wednesday at 502.42, up 18.46.
“Market participants reacted to overnight election results for the U.S. Senate seats from Georgia by buying the financials and materials sectors and selling technology shares in anticipation of a change in control in the U.S. Senate although equities gave up some gains late in the session following coverage of civil protests in Washington, DC.,” said Leon Lants, a managing director for Stephens Inc.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.