Is it time to say bye bye to Blockbuster?
One of the major games rental companies – Blockbuster – have announced they are in serious trouble. Has the recession claimed another scalp?
Of course, to just blame the recession would be foolish. Online rental companies such as Lovefilm and SwapGames have stepped up the competition by offering very good monthly unlimited rental plans, with no late fees.
Blockbuster seems to have ignored this, but will it be their downfall?
A spokesperson for the company had the following to say;
“Our level of indebtedness may make it more difficult for us to pay our debts as they become due and more necessary for us to divert our cash flow from operations to debt service payments.”
They then admit that stiff competition is giving them cause for concern as to whether they can continue operating.
Are there any Blockbuster customers amongst the PS3 Attitude Public? Or have you been tempted away by better, more convenient deals?