R.I.P Blockbuster, who’s next?

Blockbuster Inc.  declared bankruptcy early this morning, September 22 2010 . Blockbuster’s debt was about US$1 billion.

How do you feel about this?

Well, The first thing that went through my mind was “WHAT REALLY?” but then when I really thought about it….Let’s face it, who really rents movies now-a-days? Not me!  I have passed by the Blockbusters in Kerrisdale almost every day of my life but the last time I rented a movie was probably at least two years ago.

I google-ed more information on this case and a ton of articles that have been published within the past few months all say that Blockbuster will eventually come to an end. Now that it has, it’s too late for me to visit one more time! Bummer. Because Blockbuster is such a big company, we don’t expect it to go bankrupt compared to a smaller company; the possibilities of filing for bankruptcy are just the same.

Out of curiosity, I searched what companies may possibly go bankrupt and this is what I found using three different articles:

(I only listed the companies that I were interested in)

• Porsche Automobile Holding
• Eastman Kodak Company
• United States Steel Corporation
• Hertz
• Sprint Nextel
• Macy’s
• CBS
• Las Vegas Sands
• Six Flags
• Harrah’s Entertainment
• MGM Mirage
• United Airlines
• Ford Motor
• General Motors

Sources:

http://www.businessinsider.com/15-big-companies-skidding-toward-bankruptcy-2010-5#15-central-european-media-enterprises-cetv-1

http://www.businessinsider.com/blockbuster-declares-bankruptcy-now-see-what-big-company-will-drop-next-2010-9?utm_source=Triggermail&utm_medium=email&utm_term=Business+Insider+Select&utm_campaign=BI_Select_092210_Personal

http://www.businessinsider.com/10-household-names-veering-towards-bankruptcy-2009-9#interpublic-group-ipg-10

http://articles.moneycentral.msn.com/Investing/Extra/10-companies-that-may-go-bankrupt-this-year.aspx?page=4