Blockbuster reinstates late fees

Blockbuster is almost a $1 billion in debt and planning to close even more stores. It told federal regulators bankruptcy is likely because of revenue losses and increasing competition.

March 3, 2010 3:13:54 PM PST
Late fees are back at Blockbuster Video.

The video rental chain stopped charging them 5 years ago. But beginning this week, Blockbuster is charging $5 for a 5-day rental instead of 7 days.

If a movie is overdue, Blockbuster will charge a $1-a-day late fee for up to 10 days. After 15 days, the customer is charged for the price of the DVD.

Blockbuster says the policy is in keeping with its competition.