
Blockbuster Bankruptcy: Shares collapse, will they go bankrupt?
By: Alan Ng | March 4, 2009 | 8 CommentsWe have some surprising news today, as movie giant Blockbuster are seeking advice on bankruptcy due to the recent trading suspension by the New York Stock Exchange.
Kirkland & Ellis are a law firm who specialise in Bankruptcy and are currently looking into ways which Blockbuster could agree a ‘pre-arranged bankruptcy’.
Still though, all these are just precautionary measures for the company as a quote over at GI.Biz from a Blockbuster spokeswoman states: ” We do not intend to file for bankruptcy.”
It has also been revealed that the company shares dropped as much as 86 per cent yesterday. Following on from this with the NYSE collapsing, things cannot be good for Blockbuster at the moment.
Do you think Blockbuster will go bankrupt? Surely not, they are ‘too’ big for that? Let us know your views.
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