By Maggie Overfelt, CNNMoney.com contributing writer

NEW YORK (CNNMoney.com) -- The news this week that Blockbuster Video has hired advisors to explore "restructuring" options, which analysts say could include a bankruptcy filing, is bittersweet to the movie rental business's remaining indie stores.

They're likely to outlive the corporate Goliath that once crushed scores of smaller retailers beneath its blue-and-yellow onslaught of identical chain stores. But the same forces that seem to have doomed Blockbuster (BBI, Fortune 500) - mail-order DVDs and streaming online video - may kill off the entire industry.

John Koch, the founder of Cinema Revolution in Minneapolis, is fighting on all fronts to keep his business going. Sales started softening in the middle of last year, when high gas prices kept people from making the drive out to his store. To compensate, he moved to a new location in Minneapolis, with a higher rent but also a more diverse and artistic community. Koch hopes his new neighbors will better appreciate his selection of foreign and cult films; he also provides a haven for local filmmakers who need a venue to screen their movies.

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