When your stock is under a dollar and then plunges 32% on bankruptcy rumors, you've got issues. A more complete analysis is here.
I know in North Fort Worth that three of the stores were shutdown as a cost cutting measure -- and they were all within a stone's throw of each other. Two near Basswood and Beach, and one near 377 by the Target Super Center.
But the one in Decatur, with the smallest parking lot in the southwest proper, remains open.
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3.17.2010
In Case You Didn't Know, Blockbuster Is In Trouble
When your stock is under a dollar and then plunges 32% on bankruptcy rumors, you've got issues. A more complete analysis is here.
I know in North Fort Worth that three of the stores were shutdown as a cost cutting measure -- and they were all within a stone's throw of each other. Two near Basswood and Beach, and one near 377 by the Target Super Center.
But the one in Decatur, with the smallest parking lot in the southwest proper, remains open.
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15 comments:
Looks like it is time for another mom and pop video rental store, I will work on it.
aren't they too big to fail..?
Oh, great so where do I go now to rent a vcr?
Kimmel the other night: Blockbuster...they just sell candy now, right?
Put in a nickel and take out a dime....when the stock market runs out of retirement funds and 401k's where is the money going to come from then.
still dropping, just checked it was at 28 cents
The one in Deactur will be a prime location for another fast food Mexican restaurant, or a donut shoppe. (Note the old-time spelling to make it sound more classy).
Wendy's??????
People actually watch DVDs?
In the north FTW and 'burbs area, the Family Video chain seems to have taken up the slack quite nicely.
About half of the titles rent 2 for $1 for five nights, Classics and Favorites are $1, and I think new releases are $2.99. There are even a few free titles, educational, workout, small children's fare.
The footprint is about the same, or slightly smaller than a BB store, but the staff are much more attentive. The 2 for $1s aren't necessarily Oscar winners, but there are a bunch of decent titles among them.
this is the dagger that is contained the audit opinion - p. 78 of the report from pwc.
The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 1 to the consolidated financial statements, the Company has incurred a net loss from operations for the year ended January 3, 2010 and has a stockholders’ deficit as of January 3, 2010. In addition, the increasingly competitive industry conditions under which the Company operates have negatively impacted the Company’s results of operations and cash flows and may continue to in the future. These factors raise substantial doubt about the Company’s ability to continue as a going concern. Management’s plans in regard to these matters are also described in Note 1. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.
audit firms are required to include this in what's called a "going concern" opinion - which, in summary, states there is substantial doubt whether the company can stay in business for the next 12 months.
i remember pwc giving bombay furniture (another dfw-based company) the same going concern opinion a few years ago and they declared bankruptcy very shortly thereafter.
Why would'nt a business in Decatur have a small parking lot?If it would hold six cars they would build a public office on it.DAGO
2:47, Wendy's is coming, but it's coming from IGA. Get ready for out of date burgers.
You want mold with that?
Glad I short sold Blockbuster!
Signed Double Serious HowToMakeaBuck
Wendys by IGA, just what we need something else to bottleneck traffic in that area. Why can't they build something on the other side of town.
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