Blockbuster on the edge of bankruptcy

Rental giant in danger of going down the tubes

Blockbuster has admitted that they are in severe financial difficulty.

Increasing competition from online rental and streaming services like Love Film and Netflix have forced the US company to admit there is "substantial doubt about our ability to continue as a going concern".

According to MCV Blockbuster are even having trouble securing DVD stock from the major Hollywood studios due to rising debt.

Blockbuster has stated: "Our level of indebtedness may make it more difficult for us to pay our debts as they become due and more necessary for us to divert our cash flow from operations to debt service payments."

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