Deathwatch - pressing eject on Blockbuster Video
Barely a week ago, I drove past a small retail park and notice the blue and yellow branding for BLOCKBUSTER VIDEO. After a decade of mainstream DVD usage, I had to wonder what would happen to a company that couldn't be arsed to pay for new signage. Now I know.
Blockbuster has been trying to flog its UK and European operations for some time, and it's now looking likely it'll have to put up its Canadian stores as collateral for the business, because the company has failed to secure bank credit to bankroll new stock. Without the additional funding, there's an question as to whether Blockbuster can keep supplying new releases, which is kind of the whole point of it existing.
The supply issues are one of a number of factors that may see Blockbuster seeking bankruptcy protection, and that raising cash to purchase stock using its own stores as collateral may be the only way forward. In February, the company's auditors warned that Blockbuster may not be able to continue as a going concern if its cash situation didn't improve. To be fair, I don't see the world mourning the loss.