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Blockbuster Filing for Bankruptcy Next Month

Posted: August 27th, 2010 by WorstPreviews.com Staff
Blockbuster Filing for Bankruptcy Next MonthSubmit Comment
Blockbuster has now told Hollywood studios that it is planning to file for bankruptcy in mid-September to get rid of its crippling $1 billion debt and to escape leases on 500-800 of its worst-performing stores. There are a total of 3,425 Blockbuster stores in the US.

The plan is to restructure the company and focus on the 6,000 kiosks that are spread across the country. These kiosks let people rent DVDs for $1 per night, similar to Redbox. Blockbuster will also continue battling Netflix with their DVD-by-mail and downloading services.

The company is asking for support from the six major studios to keep getting a flow of DVDs and Blu-rays. Sources say that the studios are glad to keep working with Blockbuster, since it's a viable competitor to Netflix and Redbox.

Source: LA Times


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Displaying 29 comment(s) Profanity: Turn On
GrandpasWeiner writes:
on August 27th, 2010 at 9:01:31 PM

f*cking Lame. I like Blockbuster. Redbox blows
Scott Baiowulf writes:
on August 27th, 2010 at 9:30:24 PM

Wasn't blockbuster supposed to go out of buisness 10 years ago.
otis writes:
on August 27th, 2010 at 9:48:05 PM

What's blockbuster?
Max Rockatansky Junior writes:
on August 27th, 2010 at 9:58:02 PM

NO f*ckING sh*t, NOSTRADAMUS.

Let me guess ... Blockbuster is gonna close stores, next ... right ?

Oh wait. THEY ALREADY f*ckING DID.

Alex, who the f*ck did you get to predict this ? Sandra Brown and Miss Cleo ?
Max Rockatansky Junior writes:
on August 27th, 2010 at 10:17:00 PM

otis writes:
on August 27th, 2010 at 9:48:05 PM

What's blockbuster?


@otis

The JC Penneys of video rental.

Don't worry. You won't know who JC Penneys is either.

Or Service Merchandise.

Or Circuit City.

Or Montgomery Wards.

Or any other US company created with a finite lifecycle.
Max Rockatansky Junior writes:
on August 27th, 2010 at 10:18:18 PM

GrandpasWeiner writes:
on August 27th, 2010 at 9:01:31 PM

f*cking Lame. I like Blockbuster. Redbox blows


@Papa's Weiner


Like a Thailand, underage prostitute in a hotel doing David Carradine, Paps.

And they do it well.
DaveThePhotoGuy writes:
on August 27th, 2010 at 10:24:12 PM

I think the definition of Blockbuster is a movie that makes a lot of money right?
Ranger writes:
on August 28th, 2010 at 12:00:06 AM

Or when Lohan f*cks all the married guys on one city block.
DaveThePhotoGuy writes:
on August 28th, 2010 at 12:19:22 AM

Would'nt that be a c*ckiller, ranger?
SaulSilver writes:
on August 28th, 2010 at 12:33:47 AM

I live in CT, and all the stores are closing, but the Express Machines keep popping up all over the place. Netflix put em out of business...not Redbox.
CCBlev writes:
on August 28th, 2010 at 12:47:22 AM

O well, what can you do?
FBO writes:
on August 28th, 2010 at 1:05:57 AM

that's what they freaking get, they use to charge $5/night for new releases and they expanded faster than they could handle. It's not netflix or redbox's fault that blockbuster sucks
mustardayonnaise writes:
on August 28th, 2010 at 2:06:08 AM

Bah, that's a f*cking good comeuppance. I remember in high school always feeling like i was getting f*cked over when I would rent a movie. and then the late fees were the WORST. they raped their customers and didn't think twice about it.

Netflix FTW. blockbuster can go suck a bag of d*cks and rot in hell
Rambo writes:
on August 28th, 2010 at 2:11:50 AM

Internet killed them.
johnny_boy writes:
on August 28th, 2010 at 5:16:49 AM

Only reason I ever go to blockbuster is cuz of video games. I have netflix for movies(which is great BTW). Blockbuster is pretty dam over charging and are d*cks with the late fees. So I'm planning on getting gamefly(anybody suggest it?). f*ck blockbuster they dug up their own grave
rocketman writes:
on August 28th, 2010 at 7:02:17 AM

Only place within 15 miles to buy blurays,if that goes im f*cked for release day purchaces.
KallousTom writes:
on August 28th, 2010 at 7:22:01 AM

So, is this just American stores or are European stores gonna get hit too? If so, I'm f*cked.
rocketman writes:
on August 28th, 2010 at 8:13:43 AM

I read that stores in Britain were doing OK?last year...
HorrorJunky4Life writes:
on August 28th, 2010 at 10:00:04 AM

If Blockbuster had gone into the movies-by-mail when Netflix was getting started, they would have faired better then they are today.

It was nice knowing you Blockbuster. Guess my membership card is now a relic.
encoreyourface writes:
on August 28th, 2010 at 11:48:49 AM

blockbuster was cut off from me a while ago, i won't miss it.
rabid writes:
on August 28th, 2010 at 12:16:37 PM

Blockbuster are dumbasses. They had years and all the money in the world to set themselves up like Netflix. And now they're the dinosaur.
They never carried anything but the most popular stuff, no cult classics or good horror.
fadeddragon2469 writes:
on August 28th, 2010 at 2:42:30 PM

It's funny cuz when sh*t like this comes up in the news, we usually get some sort of press release in my store. This time, not a damn one. I really don't care. Blockbuster f*cked themselves (store wise). Tried to become a version of Circuit City by buying tons of video games systems that no one bought from us and then start allocating electronics that, again, no one buys from us. That was a huge waste of money. And honestly, them not charging late fees anymore f*cked them. They should've kept it. The $1 a day thing is not a big deal but people are spoiled bitches so they complain. The online prog. BB has isn't bad though, you can get games now through it. Although, they have to be like 90's past release to be available online. But still, thats pretty f*cking sweet i think. The stores will be done by this time next year....Guarantee you.
Ranger writes:
on August 28th, 2010 at 4:03:22 PM

@faded - good post.
HorrorJunky4Life writes:
on August 28th, 2010 at 6:31:30 PM

You bring up a very good point Rabid. One of the main reasons why I like Netflix is that I can rent hard to find doc*mentaries from their site, not Blockbuster.
ChainsawX writes:
on August 29th, 2010 at 12:18:42 PM

blockbuster you are the weakest link...goodbye
johnthemon writes:
on August 29th, 2010 at 1:41:43 PM

it was only ever a matter of time. I haven't darkened the door of a Blockbuster since...well a long time.
fadeddragon2469 writes:
on August 29th, 2010 at 3:26:33 PM

Thanks Ranger. If I'm good at anything it is knowledgably bashing the company I work for lol.
Ranger writes:
on August 29th, 2010 at 10:16:49 PM

lol. Well... it's nice to see a post from an 'insider.' I didn't know they went 'off message' stocking gaming machines, etc. No doubt the few at the top have golden parachutes and made their fortunes. I remember when BB boasted (and rightfully so) opening a new store every 24 hours. Great for them! They were at the right place(s) at the right time and capitalized on it. But posters like Horror, Rabid etc. hit the nail on the head about they sitting on their ass for too long, and Redbox and Netflix grabbing the market while they were snoozing.

For every season, turn, turn, turn, turn...

fadeddragon2469 writes:
on August 30th, 2010 at 12:18:50 PM

Yeah Ranger, for some unbelievably dumb reason they thought that they could become Blockbuster Entertainment and offer everything from gaming systems, mp3 players, video cameras ontop of movies. Big mistake. You get allocation for that many electronics and they don't sell, that money goes down the toilet. And those you mentioned are right (horror and rabid) as well as others, they sat on making waves too long. They didn't want to admit they were f*cking up, so they waited years after to try and compete against the others. BB's online is over priced but I guess they have a good thing now with offering video games. But yeah, oh well.

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