Shed a few tears over Blockbuster’s demise? You’re not alone. But don’t worry, there is a glimmer of hope, with its CEO promising that stores performing well might stay open.
If you and your neighbours have been loyal to Blockbuster over the years, there’s a chance they’ll recognise the branch performs well and might keep it as one of their few successful stores.
CEO James Keyes said, “We’ll literally be evaluating every single store.” Up until the end of August, they apparently had 3300 stores across the US, but it’s said they will have to shed between 500 and 1300 at least to have a chance at making money again.
In case there are any number crunchers out there interested in the level of troubles Blockbuster has been facing, they declared $US1.46 billion in debt yesterday, with $US1.02 billion in assets. [Bloomberg]
Jason
Saturday, September 25, 2010 at 9:11 AMLet’s report on some Australian news. Blockbuster Australia is as strong as ever.
Pork Chop
Saturday, September 25, 2010 at 11:55 AMIf I were blockbuster I would sell every store, pump the money into digital downloads and kiosk type stores in petrol stations and shopping centres. Who has the time to pick and return physical media? And searching by actually walking around a store? How quaint.
LungFat
Saturday, September 25, 2010 at 8:16 PM@ Pork
…they declared $US1.46 billion in debt yesterday, with $US1.02 billion in assets.
Sell every store (asset) and still be $440,000,000 in debt.