Blockbuster on the edge of bankruptcy
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."
- Ultra Street Fighter IV coming to PS4 at the end of May
- Ubisoft to publish Homeworld Remastered Collection at retail next month
- Journey, Flower and FlOw heading to the PS4 in a retail package
- Phil Harrison's departure from Microsoft has been confirmed
- Here's the first look at Star Wars: Battlefront
- Project CARS will feature 110 courses across over 30 iconic locations
- Gratuitous Space Battles 2 arrives today
- First Star Wars: Battlefront details arrive including a release date
- The Witcher 3: Wild Hunt's release date is now set in stone