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Blockbuster Going Bust. Bye-Bye Blockbuster?

I can remember life before Blockbuster and soon maybe life without Blockbuster. According to reports, Blockbuster is filing for bankruptcy in September.

Blockbuster Going Bust. Bye Bye Blockbuster?

Blockbuster is hoping to use its time in Chapter 11 to restructure a crippling debt load of nearly $1 billion and escape leases on 500 or more of it 3,425 stores in the U.S. Maintaining the support of Hollywood’s film studios during the process will be critical so that Blockbuster can continue to rely upon an uninterrupted supply of new DVDs. – Source

So you’ve got to ask yourself, if companies can file bankruptcy as a financial management tool, why can’t consumers? Is Blockbuster going to feel shame and embarrassment after filing or just breathe a sigh of relief they were able to shed some debt and restructure? If so, why can’t consumers?

Blockbuster Going Bust. Bye Bye Blockbuster?
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Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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