MCV/DEVELOP News, events, research and jobs from the games industry
US retailer Blockbuster has posted some disturbing numbers for its most recent financial quarter, with Q4 net losses at the company hitting $434.9m – up on the already savage $359.8m loss suffered in the same period a year before. Revenues fell by 18 per cent to $1.08bn. Company debts are …
Read More »US: Blockbuster to close 960 stores
Blockbuster said yesterday that it may be forced to close up to 960 outlets by the end of next year – a fifth of its overall store count. However, the firm confirmed that it still plans to have 10,000 Blockbuster Express kiosks open in the same time. It currently has …
Read More »Blockbuster offers Wii, DS rentals
Blockbuster is finally extending its rental range to include DS and Wii titles, MCV can reveal. The entertainment specialist has been offering Xbox 360 and PlayStation 3 games for rent for some time, but has now extended this to Nintendo platforms. Members of Blockbuster can expect to pay as little …
Read More »Blockbuster future thrown into doubt
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 …
Read More »Blockbuster not filing for bankruptcy
Blockbuster has denied that it is using law firm Kirkland & Ellis to help it file for bankruptcy. National newspapers reported this morning that the retailer had recruited Kirkland to advise it on ‘bankruptcy or restructuring’. However, Blockbuster spokeswoman Karen Raskopf has told Bloomberg: We’ve hired them for refinancing and …
Read More »Blockbuster close to collapse
Giant entertainment retail chain Blockbuster is close to collapse, according to national reports. The US chain, which has 700 stores in the UK, has been suspended on the New York Stock Exchange after its shares fell more than 76 per cent. The firm has asked law firm Kirkland & Ellis …
Read More »Italy to catch UK as Hypermarkets arrive
The Italian video game market has begun to approach the maturity of its European counterparts, France and the UK, as strong retail chains cash in on opportunities for growth. While the market has grown by almost 25 per cent over the course of 2008, it is still seen to be …
Read More »FIFA price war kicks off
Tomorrow marks the launch of one of this year’s biggest releases, and retailers have already slashed the price of FIFA ‘09. Tesco has made the most significant cut, releasing the game at just 29.71 on PS3 and Xbox 360, whilst Asda is to sell the game for 32. These offers …
Read More »Blockbuster: Pre-owned leads the way
Blockbuster Entertainment has dramatically increased its presence in the video game space this year – and now the outlet has targeted the pre-owned market as it looks to compete with the specialists. The rental chain told MCV recently that its new Total Entertainment store concepts will see it step away …
Read More »Blockbuster guns for GAME
Blockbuster Entertainment is to take on the specialists once again with its Total Entertainment centres, a new store concept that deals primarily with video games. According to sources at the firm, Blockbuster is planning to roll out 30 Total Entertainment stores by the end of September, with each store featuring …
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