Blockbuster files for bankruptcy in the US
Struggling video and games rental giant Blockbuster has been forced to file for bankruptcy protection in the US.
The company has made the move to allow them to cut their debts from a whopping 1 billion USD down to a more manageable 100 million USD.
Blockbuster has made assurances that their 3000 stores in the US will continue to trade as normal, as will the company's UK arm.
A company spokesperson told MCV: "That process is intended to put Blockbuster US in a stronger financial position as it continues to pursue its strategic plan and transform its business model. Blockbusters non-US operations and franchises, which are legally separate entities, were not included in the filing and are not party to the Chapter 11 proceedings."
The statement continued: "Blockbuster stores and Blockbuster on-line businesses in the United Kingdom are open and serving customers as usual. All Vendors will be paid on-time as normal and there will not be any interruptions to the supply of goods and services."
- Valve's Chet Faliszek has been confirmed as the first developer session for EGX Rezzed 2015
- One area from Zelda Wii U is as big as the entirety of Skyward Sword
- Telltale's new collaboration is with Mojang, on a Minecraft story game
- Franklin voice actor indicates GTA V story DLC is on the way
- Red Dead Redemption, LA Noire and Bully sequels will come when the time is right says Rockstar
- Telltale teases another collaboration with another game developer
- New Company Of Heroes 2: Ardennes Assault trailer recognizes the 70th anniversary of the Battle of the Bulge
- New Call Of Duty: Advanced Warfare trailer focuses on character customization
- Splash Damage's free-to-play shooter Dirty Bomb coming to Steam in the new year