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Tag: CHAPER 11

Blockbuster Prepares for Bankruptcy, Focuses on Kiosks and Web

Blockbuster is bankrupt! Or, it will be come September, when the company plans to file Chapter 11 (which, for all you legal-phobes, means the company will financially restructure). Under a looming $920 million debt, the chain will close at least 500 stores, and focus instead on DVD kiosks and online distribution. Luckily, Blockbuster's still got an edge on studio releases over Netflix and Redbox. ...