Friday, March 20, 2009 , Updated
Dallas-based Blockbuster reports $359.7 million quarterly loss
News of Blockbuster's quarterly loss of $359.7 million came yesterday (March 19) along with details about how the Dallas-based movie rental chain planned to restructure their debt.
The restructuring part of the news was (sort of) good, in that agreements have been reached with creditors; and it was (sort of) bad, because the loans the company is depending upon to work the debt repayment would be "expensive," and thus the company will postpone its planned spending on stores.
Shares of Blockbuster rose March 19 by 7 percent on the news.
posted by JM
