Blockbuster Is On Its Deathbed

Illustration for article titled Blockbuster Is On Its Deathbed

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.

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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]

DISCUSSION

jonthomasdesigns-old
JonThomasDesigns

3..2...1 Bring on the Wave of Blockbuster dissing ... But Total Access even with its new crappy rules is a MUCH MUCH better deal then netflix .. This is a sad day .. Netflix needs competition or it will cont to charge silly ass fee's like the bluray Fee