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Blockbuster May File for Bankruptcy Protection
March 17, 2010
Dallas-based Blockbuster Inc. reported that it may need to file for bankruptcy protection, according to The Wall Street Journal (WSJ). The movie-rental retailer said in a filing that its "declining sales and cash flow, coupled with increasingly competitive industry conditions, 'raise substantial doubt about our ability to continue as a going concern,'" the paper reported. About a year ago, Blockbuster made a similar warning before it refinanced its long-term debt last fall. The company said it plans to sell international operations, modify terms of its senior notes and possibly swap senior subordinated debt with Class A common stock in an attempt to boost its balance sheet, according to the WSJ.
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DDI visited the new JCPenney department store at Manhattan Mall in New York and spoke with store manager Joe Cardamone. Below is video of that conversation paired with a walk-through tour of the new store. For more on the JCPenney store, look out for DDI's November/December issue mailing out at the end of November.
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