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Blockbuster to go bust?
Reuters reports that video rental chain Blockbuster is at risk of filing for bankruptcy, and its shares plummeted 76% on the NYSE, leading to a suspension.
The company has confirmed that it has appointed “lawyers and investment bank Rothschild to explore restructuring options — including a potential bankruptcy filing” but insisted “we do not intend to file for bankruptcy.”
Blockbuster has struggled to adapt to the digital download world and its falling influence over Hollywood studios and the film-watching public.
Will anyone really be sorry to see Blockbuster go?