Blockbuster Denies Possible Bankruptcy
March 3, 2009 by Stephen Kersey
Filed under Business
According to several wire sources this week, Blockbuster has hired bankruptcy specialists and may be considering filing.
Blockbuster Video - Image: Flickr
However, Blockbuster spokeswoman Karen Raskopf denied the claims to FOX Business on Tuesday.
Bloomberg News and Reuters claimed that Blockbuster hired Kirkland & Ellis LLP. Blockbuster confirmed the fact they have hired the firm, but claim it’s for capital raising initiatives, not bankruptcy proceedings.
Blockbuster rentals have been struggling as more and more consumers have been turning away from brick-and-mortar movie rental stores, opting to watch movies online instead. Keep a close eye on the Blockbuster situation, but at this point it appears the company is not preparing to file bankruptcy.
