At least this isn't unexpected. We've known this was coming for a while.
In an effort to save themselves from Chapter 7 liquidation, Blockbuster is putting itself up for a sale auction this April.
Disney, other Hollywood studios, AND other creditors are owed over $100 million by Blockbuster, but the company was able to reach an agreement with its creditors.
According to the agreement terms, Blockbuster has been given a proposed April 4 sale date, which will be "followed by a court hearing to approve the sale on April 7."
Guess we'll see if Blockbuster is able to survive on any level after the sale. Once they're gone, that will more or less mark the end of video rental stores.
Kinda sad. Netflix is great, but there was something kind of fun about the experience of browsing for movies in the store.
Plus, it was a social occasion too! No better way to strike up conversation than shared enthusiasm for The Godfather Part I or II
Are U gonna miss Blockbuster?
Tags: blockbuster, chapter 7 liquidation, creditors, for sale, hollywood studios, movies, netflix, the godfather, video rental stores