Latest in Bankruptcy

Image credit:

Blockbuster avoids bankruptcy for now, but not NYSE delisting

Richard Lawler, @Rjcc
July 3, 2010
Share
Tweet
Share

Sponsored Links

Things stateside haven't gone the way of Blockbuster Portugal (yet) but while the Blockbuster was able to make arrangements with creditors and avoid bankruptcy this week, it will be forced to delist from the New York Stock Exchange after a proposed reverse stock split fell through. Even the extension on debt payments it was able to negotiate hasn't satisfied analysts, with our old friend Michael Pachter telling Reuters "there's nothing on the horizon that makes it look like Blockbuster is going to be more profitable." Ouch. A substantial amount of debt has long been a problem for Blockbuster as it tries to adjust to a changing marketplace with Redbox and Netflix, and with shares trading at .18, has now made its existence more precarious than ever.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Share
Tweet
Share

Popular on Engadget

The 2020 Engadget Holiday Gift Guide

The 2020 Engadget Holiday Gift Guide

View
Scientists might know why astronauts develop health problems in space

Scientists might know why astronauts develop health problems in space

View
The best Cyber Monday tech deals that are worth your money

The best Cyber Monday tech deals that are worth your money

View
Toyota's second-generation Mirai has a 400-mile range

Toyota's second-generation Mirai has a 400-mile range

View
Super Nintendo Land will open in Japan on February 4th, 2021

Super Nintendo Land will open in Japan on February 4th, 2021

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr