Long Expected, now reality. Here from UK Gurdien:
loss-making DVD rental chain Blockbuster filed for Chapter 11 bankruptcy protection in the US today, after being hammered by mail-order and online film rental services.
But the 25-year-old company should swiftly re-emerge after a restructuring deal was agreed with creditors, who include the billionaire veteran US investor Carl Icahn.
Icahn is among a number of bondholders who will swap debt for equity in a revamped company that should see borrowings slashed from $900m to little more than $100m (£64m).
He owns about a third of Blockbuster's senior loan notes, but stepped down as a director of the company six months ago to play a major role in restructuring talks.
Blockbuster's "pre-arranged" bankruptcy protection move is designed to give it time to recapitalise its US operations and to focus on its online business
Collaspe started in 1994 with 8.4 $$$Billion Purchased, that Never got above water line.
Thinq of Cool Red White & Black theINQ Tableto phone, Use to Relay in /stories or even commentos'. Like Old Days, 3AM Wireline Starts Up. Ummmm, Fakebook & theINQ, All in One Package. Have direct to: theINQ button.
Blockbuster, named ?after WW Bomb & Only vcr rental Corp left in business, won't afect 600 outlets in UK. just 3,500 in USA.
Now world catches Up, Using famed monacure's, such as: theINQ or blockbuster, theBOMB that mistakenly blew up WW Swing dance band leader. Old Pundits, with New Material. Hopefully compliment on Notoriotity of Originator.
World Slows Down, World speeds Up.
MAYBE COMPLIMENT FOR PUTTING UP WITH yE 'oLE ME. Fianlly, thought on True Pirate Talk, Rx: onLine.Ha.ha,ha OMG.
vondrashek theINQ'ster....
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