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View Full Version : Blockbuster aims to retrench in bankruptcy



Rockntractor
09-23-2010, 11:04 PM
By Jack Z. Smith

jzsmith@star-telegram.com

Dallas-based Blockbuster, once the undisputed king of the video rental business, filed for Chapter 11 bankruptcy protection in New York on Thursday but said its 3,300 U.S. stores will remain open -- at least for now.

The company, which traces its beginnings to a store in Dallas that opened in 1985, sought to reassure customers by stressing that it "intends to continue honoring its Rewards program, valid coupons, gift cards and other customer programs." It has numerous stores in North Texas and derives most of its income from movie and video game rentals.

"It's going to be business as usual," said Max Fisher, 25, an employee of a large Blockbuster store at Camp Bowie Boulevard and Bryant Irvin Road in west Fort Worth. He said the store draws substantial numbers of regular customers from a broad area because of its expansive selection of movies and games and long-standing location at the busy intersection.

While Blockbuster has struggled against innovative competitors such as Netflix and Redbox, it still has loyal customers such as Hugo Pulido, 19, of Fort Worth, a restaurant cook who said he regularly patronizes the store in the 2000 block of West Berry Street in the Texas Christian University area.

Pulido said he plans to keep coming to the store "as long as it's open." If it were shut down, "I'd do Netflix, I guess," he said.

The company has lost more than $4 billion since 2002 and closed more than 1,000 stores in the past two years in a struggle for survival. Blockbuster has about 25,500 employees, including 7,500 full-time workers.

Longtime TCU finance professor Stan Block said he thinks Blockbuster "can survive in the digital age" if it develops "new products and new ways of doing things."

Block expects Blockbuster will shut down at least 1,000 of its more than 5,000 stores worldwide.

http://www.star-telegram.com/2010/09/23/2491518/blockbuster-aims-to-retrench-in.html

They charged too much at their stores around here.

patriot45
09-23-2010, 11:06 PM
I can rent a movie with my remote!! The heck with blockbuster that ripped me off for years with thier damn late charges!

Rockntractor
09-23-2010, 11:08 PM
I can rent a movie with my remote!! The heck with blockbuster that ripped me off for years with thier damn late charges!
I quit going there when I could rent the same movie they were charging 3.99 for at the grocery store for 99 cents.

Calypso Jones
09-23-2010, 11:13 PM
I stopped going when their lesbian manager was openly rude to customers. And I'm about ready to dump netflix for the owner's 'self absorbed americans' remark. I understand he issued an apology today. Even so, i'm tired of this and i'm thinking no more passes for these retards.

Gingersnap
09-23-2010, 11:18 PM
I was never very into it. I have plenty of trouble making time to watch what's actually on TV or in our current collection. :(

Rockntractor
09-23-2010, 11:18 PM
I stopped going when their lesbian manager was openly rude to customers. And I'm about ready to dump netflix for the owner's 'self absorbed americans' remark. I understand he issued an apology today. Even so, i'm tired of this and i'm thinking no more passes for these retards.

Right now I am so pissed at liberal Hollywood I haven't really been watching any movies.

Lager
09-24-2010, 05:28 PM
I don't know how Blockbuster is going to retool into a profitable company. Netflix beat them to the punch in so many areas. I had heard that they lose money on the costs of keeping their stores operating. Will they be able to compete with Netflix in the mail order catagory? Maybe. On their streaming video downloads, probably too far behind.

NJCardFan
09-24-2010, 09:08 PM
http://www.star-telegram.com/2010/09/23/2491518/blockbuster-aims-to-retrench-in.html

They charged too much at their stores around here.

$9 to rent a PS3 game. Hell, I can buy some for $30. That said, they are now including games on their on-line service so I can rent them online for my monthly rate.