Blockbuster Bankruptcy | featured news

Blockbuster submits a plan for auction in U.S. Bankruptcy Court. To set a floor on price, a group of creditors puts in an opening bid of $290 million.

Blockbuster Inc., once the dominant movie rental company in the U.S., filed for Chapter 11 bankruptcy protection on Thursday, reeling from mounting losses, rising debt and competitors that have better catered to Americans changed media habits.

Video rental giant Blockbuster is expected to file for Chapter 11 bankruptcy protection as early as today, the Wall Street Journal reported Wednesday, citing sources.

Blockbuster Inc. will file bankruptcy next month, people familiar with the matter have told the Los Angeles Times.

Blockbuster's debt-reduction talks have been tripped up by disagreement over what size cash-injection the video-rental chain needs.

Blockbuster said in its annual report for 2009 that continuing losses and debt raise "substantial doubt" about its ability to ...