Blockbuster future thrown into doubt

MCV Staff 8th April 2009 Publishing

Fresh doubt has been cast over the future of rental chain Blockbuster after it emerged that a deal to amend the company’s credit facilities is in jeopardy, Reuters reports.

It is hoped that new credit terms will be agreed in May, but the company has been unable to offer assurances that it will be finalised. A Blockbuster statement read: While we believe that we will be in a position to close on the amended credit facility on or about May 11, there can be no assurance regarding these matters.

The risk that we may not successfully complete this refinancing raises substantial doubt about our ability to continue as a going concern.”

Blockbuster has nearly 7,500 stores across the world, but company debts reach nearly $800m. In the UK in particular it has focused increasingly on sales gaming, and moreso the sale of as opposed to the rental.

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