Circle Video, a Madison Street mainstay since 1981, has announced plans to close as of Sunday, March 19.

Reasons cited for the closing include escalating real estate prices and lack of parking on Madison Street, as well as increased competition from Internet-based video delivery services. 

Until March 19, the store will sell all of its VHS movies for one dollar each, and local schools and libraries will be allowed to take any tapes for free on March 20, according to a press release from the store.

Though owners say that the prospect of opening a new store in a different location is unlikely, they are retaining the store’s DVD collection in hopes of eventually opening a movies-by-mail service through a “Virtual Circle Video.”

For more information, see next week’s Forest Park Review.