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