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Blockbuster Bankruptcy: Shares fall, do you expect it?

After the news that Blockbuster may have to file for chapter 11 bankruptcy, this has had a huge effect on share prices. Blockbuster shares have fallen by 30 percent, a direct result of a much tougher market, one that Netflix are coping very well with.

Blockbuster has always relied on people going to their stores to hire a DVD or Blu-ray; they then offered a mail service. However, the likes of Netflix with their on-demand streaming could have hammered the final nail in Blockbuster’s coffin.

The company has already gone to shareholders to help with its mounting debt — the recent decline in shares will not go down well though. AP reports that Blockbuster shares closed at 28 cents on Wall Street on Wednesday, we just wait to see if they recover today.

Blockbuster did have more than 7,200 stores worldwide but were forced to shut hundred of them last year. People are looking for different ways to watch movies now and Blockbuster have taken their time catching up to the likes of Netflix and Amazon.

Do you expect Blockbuster to file for bankruptcy?

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Written by Peter Chubb

Peter has been writing on Product-Reviews since 2007 and in that time much has changed for him, like his hair having more grey than brown now. He loves gadgets and cars, and gets excited when big events come up, such as CES and the big auto shows.

Contact Peter Chubb: [email protected]

He started out working in a factory and dreamed of the day when he could become his own boss; That happened back in 2002 and he has never looked back since. Things have changed so much on the Internet in that time, but he has adapted well.

Contact Peter Chubb: [email protected]

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