After months of rumors, Blockbuster Video official filed for bankruptcy on Thursday.
Earlier this year, the company closed roughly 10 percent of its stores.
However under the plan, a remaining 3,000 U.S. stores will stay open.
Customers in Odessa and Midland don't have to worry; the stores here in the Permian Basin will not close.
The chain has been struggling under increased competition from rivals Netflix and Redbox as more people move to instant downloads and vending machine video rentals.