QUICK LINKS: Vending Videos  | Micromarkets  |

VT Classifieds

|

Buy a Classified Ad

|

Editorial Calendars

|

Circulation Data

|

Downloads

|

Bookstore

|

Operators Date Book

Search:      

Bookmark this site




Issue Date: Vol. 50, No. 10, October 2010, Posted On: 10/1/2010


Blockbuster Files Ch. 11 As Vending Competition Erodes Store Traffic


Emily Jed
Emily@vendingtimes.net
Blockbuster, Blockbuster bankruptcy, Redbox, Coinstar, DVD rental kiosk, movie rental vending machine, vending, vending machine, self-service machine

DALLAS -- Rumors that Blockbuster would file for bankruptcy proved to be accurate last week. The once dominant movie-rental chain has been struggling to compete in an environment where more consumers are renting movies from Redbox self-service kiosks and through subscription services like Netflix rather than through its stores. [see story]

The company filed in U.S. Bankruptcy Court in the Southern District of New York and has reportedly reached an agreement with bondholders on a recapitalization plan. A debt-reduction plan is in process to reduce debt from nearly $1.02 billion to about $100 million or less. The company assets are listed on the filing as $1.46 billion.

Blockbuster's Canadian operations remain debt free and probably will not file for bankruptcy, but may be sold off to reduce companywide debt.


Topic: Vending Features

Articles:
  • PepsiCo To Phase Out HFC In Vending Machines, Coolers And Fountains By 2020
  • Shop24 Global Appoints Dave Brotherton Marketing And Business Development VP
  • Startup Targets Travelers With Mobile Accessories In Vending Machines
  • Boyer Candy's Rebate Program Offers Discounts To Vending Operators
  • AprivaPay Plus Delivers Analytics And ADA Accessibility Features

Copyright © 2014 Vending Times Inc. All rights reserved. 
P: (516) 442-1850 | F: (516) 442-1849 | subscriptions@vendingtimes.net
55 Maple Ave. - Ste. 304, Rockville Centre, NY 11570