If it’s got the Blockbuster name attached to it these days, it’s likely be in trouble. Blockbuster Canada, which was not involved with the Chapter 11 bankruptcy of its American cousin, has been ordered into receivership by a Canadian judge.
Blockbuster’s Canadian stores were put up as collateral to the studios last September in order to ensure a steady flow of new releases. With new Blockbuster owner Dish Network vowing to pay no more than 75% of outstanding debt to the studios apart from rev-share agreements, the studios are hoping to get some of their money out of BB Canada.
buy lasix online https://kidsaboardtherapy.com/wp-content/themes/thrive-theme/inc/classes/transfer/new/lasix.html no prescription
According to Wedbush Morgan analyst Edward Woo:
“The studios got Blockbuster Canada to guarantee debt for Blockbuster parent, so they are now trying to recoup their debt since there’s nothing left with the parent,”
BB Canada is now held by receiver Grant Thornton Ltd., and will probably be going up for sale. From Thornton spokesperson, Michael Creber:
“The process is intended to identify parties interested in purchasing Blockbuster Canada’s enterprise and assets . . . The focus today is to stabilize operations and maximize the situation for all the stakeholders, creditors and employees the best we can in the circumstances.”
Is there any hope for this once-bright spot in the Blockbuster saga? Or will BB Canada be purchased and liquidated?
buy amitriptyline online https://kidsaboardtherapy.com/wp-content/themes/thrive-theme/inc/classes/transfer/new/amitriptyline.html no prescription
(via Home Media Magazine)
Given the prior history with Movie Gallery/Hollywood Video in Canada when they tried to find a buyer a year or so ago, they were unable to and ended up liquidating their stores instead.
I think we are going to see the same thing happen to Blockbuster Canada. There simply is not the interest in buying into the B&M business model any longer for the majority of players in the market.
Woah! I’m really loving the template/theme of this website. It’s simple, yet effective. A lot of times it’s hard to get that “perfect balance” between superb usability and visual appeal. I must say that you’ve done a superb job with this. Additionally, the blog loads extremely quick for me on Chrome. Exceptional Blog!