Blockbuster files for Chapter 11 bankruptcy

[satzzz]

BANGALORE (Reuters) - Video rental chain Blockbuster Inc on Thursday filed for Chapter 11 bankruptcy, weighed by more than $900 million in debt and hurt by competitors who use mailboxes or instant streaming.


Senior bondholders are to provide the Dallas-based retailer with a $125 million (79.7 million pounds) loan to support operations while it is under bankruptcy protection, a source familiar with the situation told Reuters on September 22.

Investor Carl Icahn holds about one-third of the senior debt, according to the source.
The case is IN re: 10-14997, U.S. Bankruptcy Court, Southern District of New York.
(Reporting by Sakthi Prasad in Bangalore; Editing by Mike Nesbit)
http://uk.finance.yahoo.com/news/blo...7ec9b.html?x=0

[drdude]

Just saw this on BBC News and to be honest it doesn't come as a big shock what with digital downloads and postal rental services...

[ant3b]

they will be selling games off cheap now!!!

[Ginnerfreak]

I use blockbuster for all my game purchases.. their used games are cheaper than most.. Hopefully cheaper now

[Copex]

lol - they have file for bankruptcy protection, this stop deters forcing the company in to bankruptcy and gives them time to reorganize the business, also this is filed in the usa so would have little to do with the uk side of the business.

it a shame thought reporter don't make al the fact clear it could affect the uk side of the business as people here that blockbuster is bankrupt and stop making the trip to their local branch because of here say.

so to answer the question will it make games cheaper in the uk the answer is ......... NO!

more info uk Blockbuster here.
http://www.guardian.co.uk/business/2...ter-chapter-11

[Godscrasher]

Good, crap company that robbed me out of £50+. I used to use them all the time but they havn't had a single penny of my cash for a year now and won't be getting nothing more!!

I got sent to Inverness to work this time last year for a couple of weeks, so I took the laptop to kill some time in the evening watching DVD's. Week two in Inverness I decided to rent about 4 videos or whatever the deal was from Blockbusters.

Work picked up and by the end of my stay I was rushing about trying to check out of the hotel and be on my way back down to Newcastle.

By the time I get to Gretna or thereabouts i realise that I still have the DVD's on me 'SHIT'. So i continue the journey back and go to Blockbusters on the Monday after work (as it was Saturday night).

Thinking everything will be OK and Blockbusters will take the DVD's off me and maybe do a store exchange or something like that, or at least be willing to offer me full help as the origional store is over 300 miles and 6 hours away.

The old bat* on the desk called up the next person in the queue, that was me. I explain the situation I was in and that it was a genuine mistake and would she be able to help me get them back to the store in Inverness? 'NO' was the answer, 'You'll have to post them off to the Inverness store'. I ask if she can notify the store in Inverness explaining to them the situation because I would be incurring late fees if not. 'Nothing I can do, sorry' Grrrrr.

So Tuesday comes and goes and I don't have the time to post them back. On Wednesday I manage to get some packaging and a decent enough box for the DVD's to be posted back. My mothers doesn't work on a Friday so I asked her if she could post the DVD's off for me at the post office if I package everything up, she agrees.

On the Wednesday I receive a phone call from the Blockbusters in Inverness telling me that the DVD's were due back in on Saturday gone. I explain what had happened but they didn't seem bothered and began to tell me that the late fee has been charged to my account. FFS.

So with the DVD's packaged up and ready to go I ask my mam to send them off the the correct Blockbusters address i got from the internet for that specific store and ask her to send it via recorded delivery. I see my mother again on the Monday and ask her if she sent it for me? 'yes I sent it, here's the receipt' ....No recorded delivery!! DOH!! never mind they will still make it.

a few days went by and I call the shop in INverness to see if they had received the DVD's, 'NO' was the answer, and then i'm told that if they don't receive the DVD's I will be billed for the price of them (FFS they were crap films anyway) In the mean time I get a couple of letters sent through the door informing me about the late fees that have been charged to my account and I would not be able to rent any more DVD's from them until it is cleared.

So another phone call to them a couple of days later to see if it had arrived and to no avail and no help I was told that they hadn't. But I did receive a nice letter and a phone call from their acounts department demanding £50 odd quid for the price of the DVD's. If I knew that this would happen I would have kept the damn things.

Anyway, Blockbusters can lick my balls now. They must have lost a few quid a month from me because I used to rent out films for the daughter every couple of weeks. I'll take my money elsewhere punks!!!

* Old lady is a wikkid witch, no manners and throws the DVD's back at you without a thank you or please, and with me asking her to speak up sometimes because my hearings shit, she looks at me with a scarl look and replys in a sarcastic way. Hope that bint loses her job.

[EvilBoB]

I use blockbuster for all my game purchases.. their used games are cheaper than most.. Hopefully cheaper now

Me too although most Blockbusters around my way now have a Gamestation in them so their prices are normal high street second hand prices. My local one still does cheap as chips games though. I picked up a Tiger Woods game recently for the PS3 (Can't remember which year it was) and it cost me £1.99!!!

[CzarJunkie]

This has been a long time coming. Netflix, Hulu, Apple TV and the upcoming Google TV are the future. Blockbuster really fucked it up, they really missed a fucking great opportunity.

[bignes_420]

Thought u would have just downloaded em would have been easier?

Wor lass rented 2 ps3 games for jailbreak last week, £7 complete and utter rip (legendary and some other one)

I used them all the time in the ps1 copying days but there an aged company that just hasnt got a chance in todays market, so good riddance

[Raptor]

Netflix pwns Blockbuster all day every day

[greens117]

Wor lass rented 2 ps3 games for jailbreak last week, £7 complete and utter rip (legendary and some other one)

Got to be better than full price. ?

[raelmadrid]

ypu don't sound bitter at all Godcrasher lol