Blockbuster files for Chapter 11 bankruptcy
The news we had all been waiting for has finally come: Blockbuster, Inc. has filed for Chapter 11 bankruptcy.
Most of the company’s services will remain available throughout the process, which will last a few months. But as part of its reorganization, the company plans to shut down as many as 800 of its 3,400 stores in the United States. It also plans to move more toward a kiosk- and digital-based approach to delivering its content.
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