Blockbuster goes Bust?

PostBlockbuster goes Bust? by **Hexx** » Wed Mar 04, 2009 6:38 pm

Shares drop 76 per cent – and are suspended on NYSE

Giant entertainment retail chain Blockbuster is close to collapse, according to national reports.

The US chain, which has 700 stores in the UK, has been suspended on the New York Stock Exchange after its shares fell more than 76 per cent.

The firm has asked law firm Kirkland & Ellis and investment bank Rothschild to examine restructuring or bankruptcy, an unnamed source told Reuters.

The company has struggling to tackle a variety of threats, including online retailers, video downloads and mailed rentals. Restructuring has also left it hundreds of millions of pounds in debt.

The first Blockbuster in Britain opened in 1989 in London. Britain is now the firm's largest market outside the US.

MCV has contacted Blockbuster UK for response.

Shame to see it go if it does. (BB games near me is pretty good).

I can see why the rental arm would be collapsing though - it's been struggling for a while.

PostRe: Blockbuster goes Bust? by **Exxy** » Wed Mar 04, 2009 6:39 pm

Bastard, only just got myself a new card

PostRe: Blockbuster goes Bust? by **SEP** » Wed Mar 04, 2009 6:39 pm

But...but...I love Blockbuster's! If I find a couple of extra quid in my pocket, I can just go there and rent something out!

Anung wrote:my mate works at a BB.

Aye, so do I.

Haven't heard anything yet though....

It will be a sad day if that happens. I have fond memories of frequenting Blockbuster almost ever saturday to rent a video/dvd and sometimes a game. This was how i spent my saturday evenings until i was like 12 yrs old. Although it will save me money now coz if i ever go there now with my wife we spend a fortune on sweets, popcorn, coke etc..

PostRe: Blockbuster goes Bust? by **Cuttooth** » Wed Mar 04, 2009 6:44 pm

Things like Netflix and LoveFilm absolutely destroyed it. My local store that has probably already shut down.

PostRe: Blockbuster goes Bust? by **JiggerJay** » Wed Mar 04, 2009 6:45 pm

Meh, never personally used them for renting, the banana splits made me get a blockbuster card to buy a pre owned game a few years ago, I was well strawberry floated off, but it was a really rare xbox game.

PostRe: Blockbuster goes Bust? by **JiggerJay** » Wed Mar 04, 2009 6:47 pm

Cuttooth wrote:Things like Netflix and LoveFilm absolutely destroyed it. My local store that has probably already shut down.

The price model doesn't help, it's pretty pricey to rent something for like 2 days.

PostRe: Blockbuster goes Bust? by **SEP** » Wed Mar 04, 2009 6:48 pm

JiggerJay wrote:
Cuttooth wrote:Things like Netflix and LoveFilm absolutely destroyed it. My local store that has probably already shut down.

The price model doesn't help, it's pretty pricey to rent something for like 2 days.

What? Rentals are for a week. At least for games, anyway.

PostRe: Blockbuster goes Bust? by **darksideby182** » Wed Mar 04, 2009 6:48 pm

will be a shame but there rental prices for 1 night are a rip off

PostRe: Blockbuster goes Bust? by **SEP** » Wed Mar 04, 2009 6:50 pm

Cuttooth wrote:Things like Netflix and LoveFilm absolutely destroyed it. My local store that has probably already shut down.

You see, places like that require you to set up payment using your card. That is useless to me, as I only rent stuff when I have a bit of spare change, and that is very rare indeed.

PostRe: Blockbuster goes Bust? by **Exxy** » Wed Mar 04, 2009 6:51 pm

JiggerJay wrote:
Cuttooth wrote:Things like Netflix and LoveFilm absolutely destroyed it. My local store that has probably already shut down.

The price model doesn't help, it's pretty pricey to rent something for like 2 days.

All games are 7 nights, films are 1 night unless you get more (2 films is 2 nights, 3 films is 3 nights) etc so the prices aren't too bad really.

PostRe: Blockbuster goes Bust? by **Ironhide** » Wed Mar 04, 2009 7:20 pm

You can buy most DVDs for just a few quid more than renting them from BB so it's not really much of a surprise they're struggling.

Last rental I got from them cost me 4.75 for a one night rental - add the hassle of driving there and back to get it, and then to return it.

Now I rent from Love Film - cost me approx 80 pounds for 1 years unlimited movie rentals - bloody bargain. Plus the ease of popping it into the nearest post box to return it whenever I want.

I know Blockbuster do online rentals too, but their site never appealed to me. When you can rent online so cheaply it's no surprise the physical rental shop will suffer.

PostRe: Blockbuster goes Bust? by **SEP** » Wed Mar 04, 2009 7:54 pm

Chickenwings147 wrote:Last rental I got from them cost me 4.75 for a one night rental - add the hassle of driving there and back to get it, and then to return it.

Now I rent from Love Film - cost me approx 80 pounds for 1 years unlimited movie rentals - bloody bargain. Plus the ease of popping it into the nearest post box to return it whenever I want.

I know Blockbuster do online rentals too, but their site never appealed to me. When you can rent online so cheaply it's no surprise the physical rental shop will suffer.

£80 would be a rip-off for me with the amount of stuff I rent.

PostRe: Blockbuster goes Bust? by **Peter Crisp** » Wed Mar 04, 2009 8:10 pm

MCN wrote:£80 would be a rip-off for me with the amount of stuff I rent.

While it does sound a lot if you use it for games it's only the same as 3 new releases and you can get all the games and films you like for a year.

PostRe: Blockbuster goes Bust? by **SEP** » Wed Mar 04, 2009 8:12 pm

Peter Crisp wrote:
MCN wrote:£80 would be a rip-off for me with the amount of stuff I rent.

While it does sound a lot if you use it for games it's only the same as 3 new releases and you can get all the games and films you like for a year.

However, I don't get many anyway. I don't buy many games, and I don't rent many.

PostRe: Blockbuster goes Bust? by **Peter Crisp** » Wed Mar 04, 2009 8:14 pm

Fair enough.

Just use the SPAR's rental services. Do SPAR still do a rental service. It's been ages since I went to the local SPAR.

PostRe: Blockbuster goes Bust? by **SEP** » Wed Mar 04, 2009 8:27 pm

Zenigame wrote:Just use the SPAR's rental services. Do SPAR still do a rental service. It's been ages since I went to the local SPAR.

They used to have it at the SPAR in Dishforth NAAFI, but it stopped.

Blockbuster goes Bust?

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