Is Blockbuster Headed for Prepackaged Bankruptcy? One Analyst Thinks So.
|Blockbuster CEO Jim Keyes|
Meanwhile, Blockbuster CEO Jim Keyes continues his chat with Fast Company. Loads of interesting stuff in there; Gizmodo honed in on one quote in particular, taken slightly out of context, and says "Maybe This Is Why Blockbuster Is Dying." But for our purposes this morning, let's go to the part where Keyes is asked if Blockbuster will indeed file for bankruptcy:
It is not our intention. Our objective is to manage a very challenging liquidity environment. We're doing a lot of things at the same time, and we have to spend a lot of money to build our future. What we couldn't have anticipated was a complete financial meltdown in 2009. If you had to refinance a home last year, imagine what would've happened to you? The bank might've said that they'll give you a mortgage, but the bad news is that you have to pay it back in five years instead of 20 years. Ouch.