Bankruptcy filing: 2010
Much was made late last year about Blockbuster's flameout, though the "B" word had been thrown around by the video rental chain as far back as February 2010. That month, in what would be a harbinger for the nightmarish two years to follow, Blockbuster announced it would cease operations in Portugal, blaming Internet piracy for its failings in the European nation. Of course, there would be any number of reasons for the Texas-based franchise's demise — stronger competition from on-demand services, personified best by Netflix — and by Sept. 23, 2010, when Blockbuster officially filed for Chapter 11 bankruptcy protection, the chain had mounting losses and some $900 million in debt. Blockbuster stayed open while under bankruptcy, ultimately finding a buyer in Dish Network last April, though Dish's CEO Joseph P. Clayton admitted in January that many stores will still close, as planned.
Have your say
Is it important to own a house?
Thanks for being one of the first people to vote. Results will be available soon. Check for results
- 77 %1. Yes, owning a home is an investment that will pay off.
- 2. No, I'd rather save my money and rent.
- 3. No, I can't afford to buy a home.
- 4. I don't know.
New research suggests that physical formats for music, like CDs, cassettes and vinyl are experiencing a revival, particularly among younger buyers, des... More New research suggests that physical formats for music, like CDs, cassettes and vinyl are experiencing a revival, particularly among younger buyers, despite digital downloads.
Date 3 hrs ago, Duration 1:46, Views 41