Content about Blockbuster Inc.

February 24, 2012

Blockbuster parent Dish Network confirmed that it will close 500 underperforming Blockbuster video stores in the first quarter, which equates to about a third of its stores.

Dallas -- Blockbuster parent Dish Network confirmed Thursday that it will close 500 underperforming Blockbuster video stores in the first quarter, which equates to about a third of its stores.

The company, which acquired Blockbuster in 2011, said it plans to expand Dish Services offerings in the remaining Blockbuster stores. It currently offers the services in 150 stores.

September 6, 2011

Blockbuster Canada Co. is winding down operations. Grant Thornton Ltd., the receiver in charge of selling the chain, announced that it is seeking a court order to shut down the company’s remaining 253 stores.

Toronto -- Blockbuster Canada Co. is winding down operations. Grant Thornton Ltd., the receiver in charge of selling the chain, announced that it is seeking a court order to shut down the company’s remaining 253 stores.

The accounting firm was appointed receiver for the video chain in May.  In June, it shuttered about 150 underperforming Blockbuster outlets, and began the hunt for a buyer for the remaining outlets. But Grant Thornton said it has been unable to find a suitable buyer.
 

July 22, 2011

Blockbuster announced that it has assumed contracts with property owners nationwide and will maintain operations of more than 1,500 U.S. Blockbuster stores that would have closed under liquidation, as approved in a New York bankruptcy court this week.

McKinney, Texas -- Blockbuster announced that it has assumed contracts with property owners nationwide and will maintain operations of more than 1,500 U.S. Blockbuster stores that would have closed under liquidation, as approved in a New York bankruptcy court this week. The chain also will retain more than 15,000 store employees.

June 9, 2011

NCR is adding 800 Blockbuster Express kiosks to Food Lion grocery stores despite litigation over the Blockbuster Express trademark with Blockbuster and Dish Network Corp., which bought Blockbuster out of bankruptcy in late April.

New York City -- NCR is adding 800 Blockbuster Express kiosks to Food Lion grocery stores despite litigation over the Blockbuster Express trademark with Blockbuster and Dish Network Corp., which bought Blockbuster out of bankruptcy in late April.

The kiosks will be added to Food Lions across the mid-Atlantic and southeastern U.S. regions.

April 19, 2011

A report Monday by the Wall Street Journal said that Dish Network Corp. will assume leases on more than 500 Blockbuster stores after it completes its acquisition of the video-rental chain.

New York City -- A report Monday by the Wall Street Journal said that Dish Network Corp. will assume leases on more than 500 Blockbuster stores after it completes its acquisition of the video-rental chain.

The lease takeovers will assure that Blockbuster will maintain some physical presence.

In a filing with the U.S. Bankruptcy Court in Manhattan, Blockbuster also listed hundreds of locations where it plans to reject leases, as its number of open stores continues to dwindle.

April 8, 2011

Blockbuster says a bankruptcy judge has approved Dish Network's $228 million offer for the chain, paving the way for a combination of the two companies.

New York City -- Blockbuster says a bankruptcy judge has approved Dish Network's $228 million offer for the chain, paving the way for a combination of the two companies.

Dish won an auction for Blockbuster's assets earlier this week. Judge Burton R. Lifland of the U.S. Bankruptcy Court of the Southern District of New York approved the bid on Thursday.

According to Dish, the deal is expected to close in the second quarter.

April 6, 2011

Satellite TV company Dish Network Corp. said Wednesday that it won the auction for Blockbuster with a bid valued at $228 million in cash.

New York City -- Satellite TV company Dish Network Corp. said Wednesday that it won the auction for Blockbuster with a bid valued at $228 million in cash. The transaction, expected to close the deal during the second quarter, needs bankruptcy court approval.

As of Tuesday, Dish, investor Carl Icahn and a group of debt holders were the three remaining bidders for the Dallas movie-rental chain, which filed for Chapter 11 in September.

April 5, 2011

Blockbuster's bankruptcy auction is set to stretch into a second day on Tuesday after preliminary talks between bidders and the chain's representatives dragged on late into Monday, a company spokesman said.

New York City -- Blockbuster's bankruptcy auction is set to stretch into a second day on Tuesday after preliminary talks between bidders and the chain's representatives dragged on late into Monday, a company spokesman said.

Blockbuster did not say how many bidders it attracted, but halls outside the auction room in Manhattan bankruptcy court were packed with attorneys and investment bankers refining their bids throughout Monday, Reuters reported.

April 1, 2011

Several bidders, including Dish Network Corp. and billionaire investor Carl Icahn, are ready to battle for Blockbuster at a bankruptcy auction in New York on Monday, the Associated Press reported.

New York City -- Several bidders, including Dish Network Corp. and billionaire investor Carl Icahn, are ready to battle for Blockbuster at a bankruptcy auction in New York on Monday, the Associated Press reported. The chain, which filed Chapter 11 in February, has received several bids other than the opening bid of $290 million from a group of debtholders made in February.

Dish and Icahn have each submitted a bid, The Wall Street Journal reported Friday.

March 29, 2011

A Wall Street Journal report on Monday said that, according to court filings, Blockbuster will start closing 186 more stores by the end of the month, bringing the number of its U.S. locations closed or slated for closure to 1,145, or more than a third of its total, since the video-rental chain filed for bankruptcy protection in September.

Dallas -- A Wall Street Journal report on Monday said that, according to court filings, Blockbuster will start closing 186 more stores by the end of the month, bringing the number of its U.S. locations closed or slated for closure to 1,145, or more than a third of its total, since the video-rental chain filed for bankruptcy protection in September.

In filings Friday with the U.S. Bankruptcy Court in Manhattan, Blockbuster said it will reject the leases on 186 of its stores by March 31.

March 11, 2011

A Manhattan bankruptcy judge on Thursday has cleared the path for Blockbuster to sell itself to a group of hedge funds, preventing the movie rental chain from having to liquidate its assets.

New York City -- A Manhattan bankruptcy judge on Thursday has cleared the path for Blockbuster to sell itself to a group of hedge funds, preventing the movie rental chain from having to liquidate its assets.

Judge Burton R. Lifland has approved procedures for the auction of Blockbuster, with a $290 million initial offer from a group of senior bondholders led by hedge fund Monarch Alternative Capital.
 

March 3, 2011

Some landlords, vendors and other unsecured creditors of Blockbuster are objecting to Blockbuster's plan to sell itself because they fear they won't be paid what they are owed, according to the Associated Press.

New York City -- Some landlords, vendors and other unsecured creditors of Blockbuster are objecting to Blockbuster's plan to sell itself because they fear they won't be paid what they are owed, according to the Associated Press.

A hearing to approve the stalking horse bid and auction was originally scheduled for Wednesday, but was postponed late Tuesday until March 10 while the judge considers the objections.

February 22, 2011

Blockbuster said on Monday that it reached a $290 million deal to be bought out of bankruptcy by a group of investors.

New York City -- Blockbuster said on Monday that it reached a $290 million deal to be bought out of bankruptcy by a group of investors.

The offer by a group of hedge firms comprised of Monarch Alternative Capital, Owl Creek Asset Management, Stonehill Capital Management and Värde Partners -- is a so-called “stalking horse” bid. It sets a base price that Blockbuster hopes will attract other potential suitors who will offer more.

February 10, 2011

Blockbuster plans to put itself up for sale after a disagreement with its creditors, according to a Wall Street Journal report.

New York City -- Blockbuster plans to put itself up for sale after a disagreement with its creditors, according to a Wall Street Journal report.

The report, which cited unnamed sources, said the chain could not agree with creditors on a plan to get cash to help it exit bankruptcy protection. According to the Journal, a bidder could offer more than $300 million for the chain plus assuming debt and leases.
 

January 21, 2011

After filing for Chapter 11 reorganization bankruptcy in September, then winning an extension until Feb. 4 to file its restructuring plan to emerge from bankruptcy, Blockbuster now has until March 21 to file the plan and until May 20 to round up enough votes among its creditors for approval.

New York City -- After filing for Chapter 11 reorganization bankruptcy in September, then winning an extension until Feb. 4 to file its restructuring plan to emerge from bankruptcy, Blockbuster now has until March 21 to file the plan and until May 20 to round up enough votes among its creditors for approval.  

Judge Burton R. Lifland of U.S. Bankruptcy Court in Manhattan granted the extension Wednesday.

January 18, 2011

Blockbuster has received an extension to Feb. 4 to file its restructuring plan in order to emerge from bankruptcy protection, according to a regulatory filing with the Securities and Exchange Commission,

Dallas -- Blockbuster has received an extension to Feb. 4 to file its restructuring plan in order to emerge from bankruptcy protection, according to a regulatory filing with the Securities and Exchange Commission.

The retailer filed for Chapter 11 protection in September.

January 3, 2011

Amazon and Netflix are the top scorers in terms on online customer satisfaction, according to the sixth annual ForeSee Results E-Retail Satisfaction Index (U.S. Holiday Edition).

Amazon and Netflix are the top scorers in terms on online customer satisfaction, according to the sixth annual ForeSee Results E-Retail Satisfaction Index (U.S. Holiday Edition). Both had a score of 86 on the study’s 100-point scale, with 80 generally considered the threshold for excellence. Here are the study’s top performers:

December 29, 2010

While many e-retailers had a holiday to celebrate, customer satisfaction with the Top 40 online retailers overall has fallen since last year, according to the sixth annual ForeSee Results E-Retail Satisfaction Index (U.S. Holiday Edition).

Ann Arbor, Mich. -- While many e-retailers had a holiday to celebrate, customer satisfaction with the Top 40 online retailers overall has fallen since last year, according to the sixth annual ForeSee Results E-Retail Satisfaction Index (U.S. Holiday Edition).

December 20, 2010

Blockbuster said in a Friday filing that it plans to close 182 stores in the next few months as part of the movie rental company’s move to get its business back in shape in bankruptcy court.

Dallas - Blockbuster said in a Friday filing that it plans to close 182 stores in the next few months as part of the movie rental company’s move to get its business back in shape in bankruptcy court.

Blockbuster, which filed for Chapter 11 bankruptcy protection in September, has already closed more than 1,000 underperforming stores in the past two years. It had about 3,000 stores when it entered bankruptcy.

December 20, 2010

Blockbuster said in a Friday filing that it plans to close 182 stores in the next few months as part of the movie rental company’s move to get its business back in shape in bankruptcy court.

Dallas - Blockbuster said in a Friday filing that it plans to close 182 stores in the next few months as part of the movie rental company’s move to get its business back in shape in bankruptcy court.

Blockbuster, which filed for Chapter 11 bankruptcy protection in September, has already closed more than 1,000 underperforming stores in the past two years. It had about 3,000 stores when it entered bankruptcy.

October 26, 2010

U.S. Bankruptcy Judge Burton Lifland in New York approved a loan on Wednesday that will...

October 12, 2010

A late Tuesday report said that Blockbuster has launched a search for a new CEO...

October 11, 2010

American Apparel has hired the former CFO of Blockbuster Tom Casey, as acting president, putting...

September 23, 2010

Blockbuster, which filed for bankruptcy Thursday, won court permission to draw $20 million of a...

September 23, 2010

NCR Corp. said it is holding steady on its marketing and licensing alliance with Blockbuster,...