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  #1  
Unread May 21st, 2009, 11:51 PM
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Little_Miss_Csr Little_Miss_Csr is offline
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Exclamation Debt Mountain??

Ok so theres beens lots of speculation about stores in our district closing a couple already have in the last 6 months & seeming as I'm just a CSR and cant get any answers out of my Sm can someone please clarify:

How is BB Doing financially cause customers keep saying I hear your in loads of debt and likely to close!

Also Are Blockbusters UK Stores owned by BB USA or are we seperate??

Has anyone heard about anymore UK Store Closures??

Thanks
  #2  
Unread May 22nd, 2009, 12:52 AM
Deity Deity is offline
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From what I've heard, we are in debt, by a lot.

Quote:
Blockbuster. (BBI); about 60,000 employees; stock down 57%. The video-rental chain has burned cash while trying to figure out how to maximize fees without alienating customers. Its operating income has started to improve just as consumers are cutting back, even on movies. Video stores in general are under pressure as they compete with cable and Internet operators offering the same titles. A key test of Blockbuster’s viability will come when two credit lines expire in August. One possible outcome, according to Valueline, is that investors take the company private and then go public again when market conditions are better.
Source: http://seekingalpha.com/article/1191...t-survive-2009
  #3  
Unread May 22nd, 2009, 03:05 AM
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some stores are closing and others arnt
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  #4  
Unread May 22nd, 2009, 07:32 AM
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My DM said we had 5 of 16 on the 'possible close list'. He's having a meeting with just those managers next week to try and come up with a SOS (save our store) plan.
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  #5  
Unread May 22nd, 2009, 09:22 AM
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BBUK has zero debt. None. BBUS has a debt mountain.

BBUK is totally seperate from BBUS. If BBUS goes tits up, only some of it's debt is secured against it's subsidaries/international stores. So BBUK wouldn't fold just because BBUS did.

Store closures is nothing new. If a store isn't making money, why should it be subsidized by other stores? It makes sense closing loss makers. If leases are up then they aren't being renewed- again, this is probably dependent on the profit they make.

Some leases are being sold off for big profits, because they're in prime locations, so just because there are closures doesn't mean they're always bad.
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  #6  
Unread May 22nd, 2009, 11:19 AM
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Interesting responses guys thanks for the info
  #7  
Unread May 22nd, 2009, 01:28 PM
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What's to keep US bbi from pulling money from your area, after all we are the same company.
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  #8  
Unread May 22nd, 2009, 04:56 PM
BBukAM BBukAM is offline
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BBUK already supsidizes BBUS to the tune of a few hundred million dollars a year, and has done since BBUS scrapped extrended viewing fees.

If you know anything and read anything you'll find that it's quite clear that only a proportion of BBUS/their debt is secured against subsidaries(BBUK, Europe, etc.)
  #9  
Unread May 22nd, 2009, 08:59 PM
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So... I know this sounds like a dumb question, but bear with me, I don't know anything about the UK...

Are the UK stores a franchise then? Or are they considered a separate corporation from the BBUS?
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  #10  
Unread May 23rd, 2009, 08:10 PM
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Only one of the stores in my district is closing, my store is going to raid them for their movie pancakes and line rope. 8)

How does 75 man hours/week at your store sound?
 

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