It had been rumored for months, but today Blockbuster finally made it official and filed for bankruptcy. The 3,000-unit chain isn’t necessarily going to liquidate; indeed, Movie Gallery put up the fight for years after filing before ultimately discontinuing operations earlier this year. However, it’s not a good sign in the company’s ongoing battle against Netflix and Redbox. The store by me just shuttered, but others are holding on.
SOURCE: Deadline Hollywood