Blockbuster just disclosed to the SEC there is “substantial doubt” about its ability to continue breathing, since there are no assurances it can meet the conditions of a $250 million loan that’s its current lifeline.
And even if the loan keeps going it still not “may not have sufficient liquidity to finance the ongoing obligations of our business, which raises substantial doubt about our ability to continue as a going concern.”
So, uh, who didn’t see this coming? Unlike Circuit City though, this doesn’t exactly make me sad. [MSNBC via Technologizer, Image CipherSwarm/Flickr]
https://gizmodo.com/blockbuster-essentially-concedes-to-netflix-318076
