When Movie Gallery filed for bankruptcy protection in February, the beleaguered movie rental chain shuttered 760 stores. Now a
Meanwhile Blockbuster’s shares plummeted 29% after the company warned that it might have to file for Chapter 11 bankruptcy protection. The biggest
With nearly $900 million in debts, Blockbuster has been unable to expand its multi-platform capabilities to compete successfully with Netflix, the rental-by-mail giant or with Redbox’s increasingly popular kiosks, or to develop the kind of digital download presence that is becoming increasingly important as Internet bandwidth increases.
While the video rental store is not quite extinct, it appears to be heading for the endangered species list.