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Monday
Oct042010

Blockbuster Firm Could Be the Next Bankruptcy Casualty

Home videos have definitely become a thing of the past in recent years. Rental shops may have moved to renting DVDs instead, but they have still had tough competition from online businesses that rent out DVDs.

The latest – and possibly the last – casualty of this sea change is Blockbuster. The company has a chain of stores across the UK and it is the only chain you will still find in existence in the business. But now it looks as if the end could be nigh for the business, as it prepares to announce bankruptcy in a few short days time.

News of this potential bankruptcy has been in the offing for some time now. The chain has closed hundreds of stores in the US in recent months and the debts there amount to more than a billion dollars. The picture in the UK is just as bleak, as the stores sit in position in an outdated market.

It would be a shame to see the big chain go, but unless and until the bankruptcy is announced it would be impossible to speculate on just what the future holds for Blockbuster and its employees. Needless to say I shall be watching the news to see whether any such announcement is made, and what consequences could stem from it. But with debts of this amount there is little hope for the chain in the short term, let alone the long term.

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