In a regulatory filing yesterday, Blockbuster Inc. mentioned that it would have to file forbankruptcy if it can't deal with its $1-billion-plusdebt load. Not much of a surprise there.But CEO James Keyes, in an interview with Bloomberg,discounted that language in the filing, saying it was required bythe company's attorneys. He didn't deny, however, the company'sannual lost last year of $558.2 million.Now, the companyis trying to work out a different revenue-share program withstudios. Blockbuster is also reportedly trying to sell it's stores inEurope and Canada to raise cash.It looks likeBlockbuster won't be buying those Movie Gallery assets any timesoon.ALSO:Bon Ton, Macy's Find a Middle Way to Profit - ForNow

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.