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Ottawa-based movie rental company shuts down

Ottawa firm Zip.ca is closing down.

The company made its mark shipping millions of movie DVDs to subscribers across the country over the past decade.

But it's failed to adapt to the more popular video streaming.

The company introduced low-cost movie rental kiosks in 2010 and shipped more than 20.5-million movies to homes across Canada.

"It's sad to close a business we've built over a decade, but it's something we obviously saw coming," said company Founder and Chairman Rob Hall in a statement obtained by CFRA. "Closing is part of the life cycle of a company and we're excited to move onto other projects now."

Zip.ca had over 305,000 members. Members in Toronto watched the most movies, with more than 2.1-million rentals. The top renter watched 2,884 movies.

The company is asking that all rented disks be returned by Aug. 31st to avoid non-return fees of $25.

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