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Bankruptcies 2011

I knew this was coming. Everyone heads to Redbox of Netflix now. Poor Blockbuster! Literally.
 
Who?


I haven't been in a Blockbuster for years. I use Netflix and the occasional RedBox when I want something right away.
 
yg17 said:
I haven't been in a Blockbuster for years.
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There's one in town near here, but I don't know if I've ever seen more than about two cars parked in front of it. Maybe some gamer in there trying to rent the newest COD or something.

Redbox, on the other hand, is set up in a dozen or so places within a 15-minute drive of here (keep in mind, I live out in the country), and they always seem to have people in line.

Blockbuster missed the boat on DVD's in the mail, and I don't even know if they have a streaming service (which will eventually kill the disc-in-the-mail market).
 
gkarris said:
Well, it has begun....

We all know Borders.. but...

Giordano's Pizza of Chicagoland?

The BEST Stuffed Pizza?

I guess someone's mismanaging money... :eek:

Hope they pull through - IMO, no one else's stuffed comes even close...

http://www.pioneerlocal.com/oakpark/news/3075714,oak-park-giordanos-021711-s1.article
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Giordano's has to be mismanagement. Those places are always crazy busy with long lines out the door. A business like that doesn't fail unless someone inside is doing something very wrong.
 
leekohler said:
Giordano's has to be mismanagement. Those places are always crazy busy with long lines out the door. A business like that doesn't fail unless someone inside is doing something very wrong.
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I heard it was mainly due to opening restaurants in Florida - talk about expensive...

I had "Chicago Pizza" in Florida - gross...
 
Apple OC said:
Blockbuster Video is worthless ... who in proper state of mind would buy them?
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Someone who wants the real-estate. If Blockbuster did it's demographics right, then their locations may be worth more than the business.

Up here in the GWN, Bell Canada (one of the big 3 TelCo's) bought The Source (formerly Radio Shack) because it put a Bell presence into just about every mall and every small town, with staff who were already tech savvy and could sell Bell telecommunications stuff. The Bell stuff doesn't take up much of the store, but it's a natural fit. Come in for batteries, leave with a phone. It's all gadgets, eh?

Somebody might think the BB stores are the right location for a service that either dumps videos entirely, or that uses videos to complement a new offering.

But at this late date... probably not.
 
snberk103 said:
Someone who wants the real-estate. If Blockbuster did it's demographics right, then their locations may be worth more than the business.

Up here in the GWN, Bell Canada (one of the big 3 TelCo's) bought The Source (formerly Radio Shack) because it put a Bell presence into just about every mall and every small town, with staff who were already tech savvy and could sell Bell telecommunications stuff. The Bell stuff doesn't take up much of the store, but it's a natural fit. Come in for batteries, leave with a phone. It's all gadgets, eh?

Somebody might think the BB stores are the right location for a service that either dumps videos entirely, or that uses videos to complement a new offering.

But at this late date... probably not.
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In other times, maybe. There is so much vacant prime real estate available right now.
 
gkarris said:
I heard it was mainly due to opening restaurants in Florida - talk about expensive...

I had "Chicago Pizza" in Florida - gross...
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Leave it to Florida to screw up a good thing. ;)

rdowns said:
In other times, maybe. There is so much vacant prime real estate available right now.
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Yep. In Lincoln Park, one of the wealthiest neighborhoods in the city, there are stretches of empty storefronts for blocks. It's scary. Yet, the more middle class neighborhoods like mine are thriving with activity, as they've managed to keep rent down for small businesses. No one can afford the rent in Lincoln Park. Plus, people in Lincoln Park tend to be transient yuppies, who don't invest much in it, as they don't plan to be there long.
 
snberk103 said:
I guess we just aren't quite in tune with how bad it is down there. Haven't been down to States lately, and sometimes it's hard to relate what I see on the news to the reality.
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Take a look at this 2009 list of retailers who went out of business or closed stores. Scary.

I have a small mall (maybe 50 stores) near my house in Nassau County, NY, one of the richest counties in the country and it's half empty. The food court has 4 or 9 spaces vacant.
 
actually quite few companies would be interested in a company they acquired a couple of years ago, Movielink (or something), for digital streaming rights. however, it'll be awhile before Blockbuster is pushed to the point where they start selling off business assets.

Apple OC said:
Blockbuster Video is worthless ... who in proper state of mind would buy them?
Click to expand...
 
from what i understand, both Blockbuster and the debt holders just came to an agreement on the details for avoiding a liquidation post buyout. well... when it occurs anyway.

the senior debt guys don't seem to care too much for the $290 million offer from the hedge fund, thus, new terms were struck and now Blockbuster is going on auction.

no buying has occurred yet. i'm interested to see which players will be bidding...
 
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