Tuesday, March 3, 2009
Report says Dallas-based Blockbuster may file for bankruptcy
... though another report says they will not. Either way, Netflix shares are up.
From the "one man's ceiling is another man's floor" files comes this grim news regarding Dallas-based Blockbuster: they are reportedly considering bankruptcy as one of a range of restructuring options.
At the time of the quoted report, shares of Blockbuster stock were down 76 cents, or 79.2%, to 20 cents per share. (They ended the day at 23 cents per share.)
Meanwhile, this news contributed to an upswing in shares prices of rival Netflix, with that company's stock ending at $36.39 (up 5.9%)
Nothing's certain yet, however, as this report quotes a Blockbuster spokesperson who says the company does not intend filing for bankruptcy.
posted by JM
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John Meyer, says:
<p>Further doubt about a potential Blockbuster bankruptcy filing is shed by <a href="http://blogs.dallasobserver.com/unfairpark/2009/03/on_friday_blockbuster_spokesma.php">this Unfair Park post</a>, in which spokesperson Karen Raskopf says that Blockbuster could self-finance through 2009, if necessary.</p>
<p>Bottom line: the company is trying to refinance their debt.</p>
Staff
9 months, 1 week agoLink to this comment | Suggest removal
jtmbls, says:
Just as I suspected, my late fees paid a few salaries.
Anonymous
9 months, 1 week agoLink to this comment | Suggest removal
nina_chawla, says:
Wow. They've had a good run but just couldn't keep up with the times. Too bad they didn't come up with RedBox or something similiar.
Anonymous
9 months, 1 week agoLink to this comment | Suggest removal
Collin Gouldin, says:
When you don't adapt your business, you fail. Ask sears.
Verified
9 months, 1 week agoLink to this comment | Suggest removal