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Blockbuster files for bankruptcy.

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

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