So when you decided to bring back your late fees, Blockbuster, it was actually your desperate attempt to dig yourself out of a financial hole by gauging your customers!
Sad!
On Tuesday, the video rental company put in a regulatory filing claiming that it was suffering from “significant liquidity constraints” and could have to file for bankruptcy fairly soon.
The uprising of services like Netflix and DVD vending machines have put Blockbuster in a real bind and already, over 1,300 stores have been shut down.
Tough break!