#1
|
||||
|
||||
chapter 11 and what does this mean for you
They filed chapter 11 this morning
__________________
[SIGPIC][/SIGPIC] ╭∩╮(︶__︶)╭∩╮ Even the Devil, which is the main share holder of blockbuster is saying you guys are making me look bad! Horse Power is how fast you hit the wall. Torque is how far you take the wall with you. |
#2
|
||||
|
||||
business as usual.
|
#3
|
||||
|
||||
People will still come in and ask us when we are closing... yeah...
__________________
.. .... .- - . -... .- -.. -.-. ..- ... - --- -- . .-. ... |
#4
|
||||
|
||||
this is all big publicity.
a lot more people are thinking about blockbuster. I wouldn't be suprised if more customers come into the stores for a little bit thinking all our rentals are for sale now that blockbuster is in bankruptcy. I'll never forget the guy who brought 50 blurays to the counter he picked from bsi and said he wants to buy all of these for 2 for $25.
__________________
[SIGPIC][/SIGPIC] Don't believe in yourself - believe in ME! Believe in the KAMINA who believes in YOU! |
#5
|
||||
|
||||
My manager called me this morning and told me about it. Business does go on as usual, but they will be closing more stores than expected, but they won't know which ones until about 3 months.
Personally, I'm just bitter.
__________________
Idiocy is not my forte. I don't speak the language, and I don't think my college accepts it as a foreign language. That's the "idiot tax". It's our fee for having to put up with your stupid questions. And for everything else... there's Mastercard. |
#6
|
||||
|
||||
Quote:
These next two weeks are going to be hell
__________________
|
#7
|
|||
|
|||
I was on the company conf call today and they didn't say anything about closing more stores than expected, there was no mention of any number. they said they have to evaluate which stores to close, this will be based on if your store can pay its own bills. If your store is losing money you might still be kept open if your making enough online exchanges, as we need stores for them to exchange. I don't think your manager was paying attention.
|
#8
|
|||
|
|||
According to this mornings Conferance Call. We eliminated almost all of the debt, the debt holders agreed to waive our debt for a
share in the companies future, no stores are closing yet, some stores will be closed, it will have to be evaluated those will be the stores that are losing money and bleeding the company, also in consideration will be your stores online members, if your not making a lot of money but you have a lot of online exchanges they might keep you around to keep those customers as online members. We now have freed up lots of cashflow to invest in the company instead of just pissing it away on interest payments, we should emerge from chap 11 in around 5 months with 0 debt, that's right zero debt on the books! We haven't been in that situation since before viacom. Sorry everyone who wanted us to go out of buisness, its not gonna happen, the movie studios and investors have made sure that is not going to happen. To everyone who thinks this is wrong, we negotiated these deals in court so the chapter 11 makes all this legally binding. Goodbye debt, hello multi chanel distribution giant. On a sad note we did close all stores in argentina. |
#9
|
|||
|
|||
Quote:
Let the bodies hit the floor! |
#10
|
|||
|
|||
You also do know that Circuit city filed chapter 11 and ended closing all its stores. Blockbuster will shed 500-800 stores that are not performing and will continue to do that. The mass illusion that things will turn around is getting old.
Yes studios dont want them to fail but the same time they want their money.Creditors and investors will soon also want their money. Chapter 11 is not a way for " oh gee you guys fucked up but lets wipe the slate clean." They have a chance to reorganize and better have a good plan or chapter 7 can be next |
The Following 4 Users Say Thank You to Flantanella For This Useful Post: | ||
BBV PTSD (September 23rd, 2010), itirnitii (September 23rd, 2010), yodavsjason (September 23rd, 2010), zooworker (September 23rd, 2010) |
Bookmarks |
Thread Tools | |
Display Modes | |
|
|