LA Times: Blockbuster to file for bankruptcy to aid restructure and dumping locations

[Corcaigh]

o Report: Blockbuster Plans Bankruptcy Filing Next Month

Dallas, Texas -- Video rental giant Blockbuster told the six major movie studios that it is preparing to file for bankruptcy next month, the Los Angeles Times reported, citing sources. The company reportedly is strapped with nearly $1 billion in debt and unwanted leases on more than 500 of its underperforming rental store locations, and has lost a total of $1.1 billion since the outset of 2008. Blockbuster, which has already shuttered more than 1,300 stores, has faced increasing competition in DVD rentals from Netflix and Redbox, as well as in the home video market from pay-TV video-on-demand and online services like iTunes.

http://latimesblogs.latimes.com/ente...uptcy.html?dbk

[SKOALSKIN]

In otherwords Blockbuster has checked itself into a Hospice. Anyday now it will be over for them.

[MattFancy]

They've been predicting this for the last year or so. Not really surprised. Netflix, GameFly, Redbox, and OnDemand pretty much killed the need for Blockbuster.

[Henry]

I knew this was coming but it's still disappointing. I prefer Blockbuster over mail-in businesses or vending machines, and I prefer DVDs over pay-per-view. I guess there just aren't enough of me around to keep them in business.

[zoony]

I'm surprised they're still around, actually.

[Henry]

I'm surprised they're still around, actually.

Well, the store right down the street from us closed last year so know it's a 20 minute drive to the nearest one. Lately, they've stopped bothering to charge us late fees or even care if we return DVDs that aren't new releases, so obviously the end was near.

[zoony]

Well, the store right down the street from us closed last year so know it's a 20 minute drive to the nearest one. Lately, they've stopped bothering to charge us late fees or even care if we return DVDs that aren't new releases, so obviously the end was near.

Several years ago I just started buying movies. Mostly off the Under $10 rack, but occassional new releases too if I've read good reviews.

I'm rarely dissapointed. I was paying $10 a movie to rent b/c I could never get them returned on time.

[Peeping Wizard]

Too bad. I actually think the Blockbuster mail-in program is far superior to Netflix. New releases come quicker, the selection is better, we never get any damaged discs (which was a big problem with Netflix) and we have a store nearby where we can trade in the mailed discs for in-store rentals.

They are also throwing games into the mix for the mail rentals.

[Buford]

guess its back to Erols for me.

[Mr. Sinister]

Netflix kicks ass, period. That and there are still a lot of movie/file sharing websites/torrents that are still out there that haven't been shut down by the feds.

[War Paint]

I really liked the Blockbuster DVD by mail program. Like Netflix, you order what you want and they mail it to you, but you could also turn in the movies received by mail at the store and exchange them for in store movies, and they mailed back the movies for you. That way you can watch the in store movies while you wait for your next queue to be mailed. I did cancel it a while back though because it got to the point that I wasn't using the service that often.

[AsburySkinsFan]

They've been predicting this for the last year or so. Not really surprised. Netflix, GameFly, Redbox, and OnDemand pretty much killed the need for Blockbuster.

Yep, and when Blockbuster charges as much as a pay-per-view then there is no need to leave the house to go to the store to see IF the movie you want is in, only to get charged a late fee when you leave the movie at home as you rush out the door the next morning.

Blockbuster has gone the way of the dodo bird, and if they don't evolve then buh-bai.

[PeterMP]

I knew this was coming but it's still disappointing. I prefer Blockbuster over mail-in businesses or vending machines, and I prefer DVDs over pay-per-view. I guess there just aren't enough of me around to keep them in business.

I miss going to the BlockBuster and picking out a specific movie for that night based on how you feel. You don't get that with mail orders. The other thing was going through and sometimes picking up a movie that "looked" good, but hadn't really heard of and being surprised (sometimes pleasantly sometimes not).

[AsburySkinsFan]

I miss going to the BlockBuster and picking out a specific movie for that night based on how you feel. You don't get that with mail orders. The other thing was going through and sometimes picking up a movie that "looked" good, but hadn't really heard of and being surprised (sometimes pleasantly sometimes not).

Pay-per-view costs the same on Directv as a Blockbuster rental, plus you save yourself the gas, and no late fees...and you can record the movie on your DVR to watch it again.

[Peeping Wizard]

I really liked the Blockbuster DVD by mail program. Like Netflix, you order what you want and they mail it to you, but you could also turn in the movies received by mail at the store and exchange them for in store movies, and they mailed back the movies for you. That way you can watch the in store movies while you wait for your next queue to be mailed. I did cancel it a while back though because it got to the point that I wasn't using the service that often.

Exactly. I'm not really a Netflix fan but they are winning the mail order battle due to first mover advantage.