Blockbuster Bankruptcy: Shares collapse, will they go bankrupt?
Filed under: News | By: Alan Ng
Posted on: March 4, 2009 | 2 Comments
We 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.
CLICK HERE to keep updated with the latest news, share a comment or problems with products and services. Follow us on twitter or read more Blockbuster news.
Blockbuster is going under. I work for them currently and i can tell you from the bottom of my heart I think that they should. Not that all those people that work for blockbuster should go with out jobs, but this is a company that cares for no one. Netflix has more movies than we do and it costs 5 dollars to rent a movie at blockbuster the same price it costs to rent one on demand. With the switch to all digital blockbuster is done. And they know it. We try to sell anything to anyone. The rewards program is stupid and no one should get it. They have made me lie to so many customers over and over again about the rewards program. But if i don’t lie i do not get hours. They keep telling us that it will only be 10 dollars for one more week then next week it goes back up to 20. I have said that so many times. And it never goes back up. Our new dollar a day late fee is stupid. We went from no late fees to a dollar a day just like red box. We are basically told not to help anyone. I mean really we are told not to help you if you have a problem. If you come in and your movie didn’t work and we don’t have another one and you ask for your money back it counts against us as a credit. Every time someone comes in with a problem we are already reluctant to help because if you make us do anything that requires us to give you money back for anything we will are told to try any and every way to not help you. I have told people many times there was nothing i can do for them when it was blockbusters fault the whole time. I have to tell them this so that I will get hours the next week. I have to sell rewards, movie passes, and confection all the time just so i can get hours for the next week. And they keep track off all of that. If you get the wrong movie and come back and ask to get your money back we will probably either say “NO” or ask to just give you store credit. If i have to give you your money back it looks REALLY bad on me. Its a big business so i know they are not supposed to care but they really, really don’t care. It is not a good company to work for or to be a consumer for. I have not gotten a raise in more than a year and i am in fear for no hours every week of my employment.
Then quit dumbass!!!