Blockbuster's Finally Going Bankrupt

Blockbuster—an anachronism in a Netflix/ on demand world—will be filing for bankruptcy next month, according to the LA Times. Fear not, sentimental veterans of many a "Blockbuster night" (making out): the Blockbuster brand shall not disappear.

The company's lost more than a billion dollars in the past two years. It's closed nearly a thousand stores in the past year. But Blockbuster has a plan: shut down 500 more of its weakest stores, and move more towards DVD distribution through kiosks (like Redbox) and online (like Netflix and others). The studios want Blockbuster to stay alive as a Netflix competitor, so at least it has that going for it. Remember when Blockbusters were everywhere and every time you had nothing to do you'd just go to a Blockbuster, which was bound to be nearby, and rent a video tape? Blockbuster has lots of potential in the retro space.
[LAT. Pic via]

Blockbuster's Finally Going Bankrupt