Ahh movie night...
I remember the days when I would go out with my dad on a Friday night, follow my dad through those Blockbuster doors, and enter a world of movie heaven.
Search the sections for any new releases and check the old ones just in case I had missed an old favorite.
I would then grab some popcorn and then we'd be off to home.
Going to the store back then used to be part of watching a movie, almost like walking in to the cinema theatre, once you entered Blockbuster, you knew you were in the beginning of watching a movie.
However, that feeling or introduction may soon be missing from many people's lives.
Blockbuster, the biggest movie rental company in America, may be closing its doors.
While Blockbuster had been successful since its iteration back in 1985, times have not been too kind to the movie rental chain.
While video rental chains had enjoyed a long prosperous history, it seems that the days of renting movies may become a thing of the past.
Now I know what most of you are thinking, mainly, "Well, will Blockbuster really cease to exist? And, if so, how will it affect other store chains or even other movie rental delivery systems?" With the advent of the internet, downloading movies has become more and more commonplace.
Many companies have realized this and seized the opportunity by opening different online businesses to rent movie via the internet.
The recent release of the blu-ray disc, while certainly a jump in the quality of video shown in screen, has admittedly not helped the retail chain as was hoped.
Although this may come as a surprise to some, Blockbuster has been losing money steadily since 2002, and as of 2005 had a market value of $500 million.
On a more optimistic note, Blockbuster has recognized the need for an online delivery system and has created an online store called simply Blockbuster Online, mostly to compete with Netflix.
Blockbuster CEO Jim Keyes has stated to his shareholders that Blockbuster may not complete a deal to amend its credit facilities.
Now you may be asking yourself what exactly are credit facilities? Well, put simply those are loans made in a business context.
Blockbuster had recently reached an agreement with creditors to restructure a $40 million loan due by August.
Blockbuster operates around 7,400 stores globally and has amassed a debt of $780.
9 million under its credit facilities.
As people left and right try to figure out how best to make use of new technology and communication, it seems that video rentals have fallen off quite a bit as more and more people enjoy picking and watching a movie within minutes as opposed to picking movies out at rental stores.
As for the question as to whether or not Blockbuster will go bankrupt, it definitely might, but it won't do it without a fight.
The fall of the biggest video rental chain would surely be a devastating, but not completely surprising, event.
I remember the days when I would go out with my dad on a Friday night, follow my dad through those Blockbuster doors, and enter a world of movie heaven.
Search the sections for any new releases and check the old ones just in case I had missed an old favorite.
I would then grab some popcorn and then we'd be off to home.
Going to the store back then used to be part of watching a movie, almost like walking in to the cinema theatre, once you entered Blockbuster, you knew you were in the beginning of watching a movie.
However, that feeling or introduction may soon be missing from many people's lives.
Blockbuster, the biggest movie rental company in America, may be closing its doors.
While Blockbuster had been successful since its iteration back in 1985, times have not been too kind to the movie rental chain.
While video rental chains had enjoyed a long prosperous history, it seems that the days of renting movies may become a thing of the past.
Now I know what most of you are thinking, mainly, "Well, will Blockbuster really cease to exist? And, if so, how will it affect other store chains or even other movie rental delivery systems?" With the advent of the internet, downloading movies has become more and more commonplace.
Many companies have realized this and seized the opportunity by opening different online businesses to rent movie via the internet.
The recent release of the blu-ray disc, while certainly a jump in the quality of video shown in screen, has admittedly not helped the retail chain as was hoped.
Although this may come as a surprise to some, Blockbuster has been losing money steadily since 2002, and as of 2005 had a market value of $500 million.
On a more optimistic note, Blockbuster has recognized the need for an online delivery system and has created an online store called simply Blockbuster Online, mostly to compete with Netflix.
Blockbuster CEO Jim Keyes has stated to his shareholders that Blockbuster may not complete a deal to amend its credit facilities.
Now you may be asking yourself what exactly are credit facilities? Well, put simply those are loans made in a business context.
Blockbuster had recently reached an agreement with creditors to restructure a $40 million loan due by August.
Blockbuster operates around 7,400 stores globally and has amassed a debt of $780.
9 million under its credit facilities.
As people left and right try to figure out how best to make use of new technology and communication, it seems that video rentals have fallen off quite a bit as more and more people enjoy picking and watching a movie within minutes as opposed to picking movies out at rental stores.
As for the question as to whether or not Blockbuster will go bankrupt, it definitely might, but it won't do it without a fight.
The fall of the biggest video rental chain would surely be a devastating, but not completely surprising, event.