GU Comics by: Woody Hearn

Blockbuster has hired law firm Kirkland & Ellis to explore "refinancing and capital raising initiate[s]" but, according to company spokeswoman and senior vice president of corporate communications, Karen Raskopf, Blockbuster does not "intend to file for bankruptcy".
Source: Gamasutra [ more info ]

Blockbuster really seems to be struggling in the midst of US economic woes. But we have to assume their issues extend from direct competition with NetFlix and Gamefly who are both doing well.

A few years ago Taks and I lived and breathed Blockbuster. Of course it was right around the corner so it was incredibly convenient. Then we started having issues actually renting movies/games within weeks of their release date. So we started going to Hollywood Video. When our local Hollywood Video closed we switched to NetFlix and have been happy with their service since.

I'd like to close out this post with a nice big IF.
If Blockbuster files for bankruptcy protection in order to restructure (which I think, ultimately they will), I believe they'll come out the other side with a viable plan in place and will survive. I dunno why. Just a feeling.

P.S. I think Karen Raskopf may secretly be undead.

[ discuss ] - replies ( 22 ) last post by: Levanthus