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Blockbuster files for bankruptcy in Portugal, blames internet piracy

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Don't start lining up the global dominos just yet but Blockbuster is filing for bankruptcy in Portugal. In the 90s, an era predating internet streaming and digital downloads, Blockbuster was rocking some 100 27 stores in Portugal. Today that number is around 17, most of which are struggling to survive. Blockbuster blames government's flaccid response to internet piracy for its insolvency. And here we thought short-sighted executives distracted by their brick-n-mortar profits carried some of the blame.

Update: There were once 27 Blockbuster stores in Portugal, not 100. The 100 number from the machine translation is the approximate number of employees at risk of losing their jobs.

[Thanks, Alex P. and Eric L.]

Source: Publico
In this article: bankruptcy, blockbuster, portugal
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