Bankruptcies 2011

Discussion in 'Current Events' started by gkarris, Feb 17, 2011.

  1. gkarris macrumors 604

    gkarris

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    #1
  2. Apple OC macrumors 68040

    Apple OC

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  3. gkarris thread starter macrumors 604

    gkarris

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    Interesting to find out what will happen when no one buys them...
     
  4. Apple OC macrumors 68040

    Apple OC

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    They will go Bankrupt and default on money they owe.
     
  5. gkarris thread starter macrumors 604

    gkarris

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    They already filed for Bankruptcy.... I guess they'll just disappear....
     
  6. PopCulture macrumors member

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    I knew this was coming. Everyone heads to Redbox of Netflix now. Poor Blockbuster! Literally.
     
  7. yg17 macrumors G5

    yg17

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    Who?


    I haven't been in a Blockbuster for years. I use Netflix and the occasional RedBox when I want something right away.
     
  8. Tomorrow macrumors 604

    Tomorrow

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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).
     
  9. gkarris thread starter macrumors 604

    gkarris

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  10. leekohler macrumors G5

    leekohler

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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.
     
  11. gkarris thread starter macrumors 604

    gkarris

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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...
     
  12. snberk103 macrumors 603

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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.
     
  13. rdowns macrumors Penryn

    rdowns

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    In other times, maybe. There is so much vacant prime real estate available right now.
     
  14. leekohler macrumors G5

    leekohler

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    Leave it to Florida to screw up a good thing. ;)

    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.
     
  15. snberk103 macrumors 603

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    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.
     
  16. rdowns macrumors Penryn

    rdowns

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    #18
    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.
     
  17. gkarris thread starter macrumors 604

    gkarris

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  18. benzslrpee macrumors 6502

    benzslrpee

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    #20
    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.

     
  19. gkarris thread starter macrumors 604

    gkarris

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    Actually, amidst all the crazy world news and stock market, someone is buying Blockbuster (as of today):

    http://www.thestreet.com/story/11045865/1/2011-retail-catalysts.html
     
  20. benzslrpee macrumors 6502

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    #22
    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...
     
  21. Joshuarocks macrumors 6502

    Joshuarocks

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    Usa

    Heading for bankruptcy sometime in 2011-2012! 15 trillion and counting!
     
  22. Consultant macrumors G5

    Consultant

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    Netflix can buy them and use them as TV studios. ;)
     
  23. gkarris thread starter macrumors 604

    gkarris

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