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Friday, 27 August 2010 10:07

Blockbuster to file for bankruptcy

Written by Nedim Hadzic


Next week
Blockbuster hasn’t been having the best of times as of late and we now hear that the company is set to file for bankruptcy next week.

Blockbuster has allegedly met with Hollywood’s big movie studios in order to discuss the move. The company expects to restructure $1 million in debt.

The company closed about 1000 stores last year and it looks like 500-800 more will be closing this year. The company hopes that bankruptcy filing will allow them to expand into new markets, but first things first.

More here.

Last modified on Friday, 27 August 2010 11:01

Nedim Hadzic

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Comments  

 
+5 #1 yourma2000 2010-08-27 12:56
The Blockbuster near mine went years ago, now it's a carpet shop :D
 
 
+6 #2 Bl0bb3r 2010-08-27 13:09
Idiots... they had that stupid MPAA/RIAA mentality.

Instead of investing in a streaming service for their customers, they just held on to barely nothing, until that barely went just nothing.
 
 
+24 #3 FistOfGod 2010-08-27 13:10
Looks like I won't have to bother returning those DVDs after all...
 
 
+2 #4 B0GiE-uk- 2010-08-27 20:31
$1 million in debt? That pennys compared to wha the movie industry makes.

Blockbuster needs to get with the times and have an online service.
 
 
0 #5 Fud_u 2010-08-28 08:45
Quoting Bl0bb3r:
Idiots... they had that stupid MPAA/RIAA mentality.

Instead of investing in a streaming service for their customers, they just held on to barely nothing, until that barely went just nothing.


I think they did try, but the idea of pay per view fail.
 
 
+1 #6 Bl0bb3r 2010-08-28 14:36
... out of their own greed, and not anything else.
 

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