- Let’s face it, this is the possible death of an American icon. Or at least a sign of the times. A once iconic business model – Blockbuster’s movie-rental biz – is facing a tough Chapter 11 challenge, in part because of the insane amount of debt it has. So now it’s going to try to fix itself. Good luck trying to survive with Netflix and Redbox in your face. Some numbers:
- $1Bthe amount of debt the company has right now; time to reorganize!
- $100Mthe amount of debt it plans to have after bankruptcy ends
- 3,000 number of stores the company has; expect that to go down source
Posted by Ernie Smith •
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