Liquidators Could Close All Remaining Blockbuster Locations

Digiart2001 | jason.kuffer / Flickr under a CC license
Alex Eichler 1,378 Views Apr 4, 2011

Last September, Blockbuster Inc. filed for bankruptcy. Today, it was reported that two companies that liquidate inventory after stores close are bidding in Blockbuster's bankruptcy auction. If they win, they could close up the remaining 1,717 Blockbuster locations and sell off the inventory.

It's not yet clear how likely this is, though. The liquidators, Gordon Brothers Group and Hilco Merchant Resources, filing a joint bid, are only one of several parties with a stake in the Blockbuster auction, and The Wall Street Journal notes that they might be outbid entirely. Alternatively, the liquidators could win the rights to Blockbuster's physical locations, while another bidder might take over the vending and digital side of operations and decide to keep them going.

Still, this is dispiriting news for anyone who grew up with Blockbuster rentals. Then again, it's a season for sad bankruptcy stories. Bookstore chain Borders undertook the process in February (and not every location has taken it with good grace). American Apparel is said to be contemplating bankruptcy after a financially disastrous 2010. And today, pizza restaurant Sbarro filed for Chapter 11 protection, reportedly hoping to reduce its debt by $195 million.

It's hard not to feel, reading these headlines, like all the wholesome entertainment options of the '80s and '90s (and also American Apparel) are closing their doors, one by one. As long as Chuck E. Cheese's isn't next--we don't know what we'd do if that were the case.

Want to add to this story? Let us know in comments or send an email to the author at aeichler at theatlantic dot com. You can share ideas for stories on the Open Wire.

Related Articles   More by Alex Eichler

Bankrupt Borders Finds a Buyer, Plans to Sell For $215 Million

Making Sense of Dish Network's $320 Million Blockbuster Purchase

Mexican Immigration Has Fallen to a 60-Year Low

 

Tyler Cowen Is Funny, Scarily Well-Read, Possibly Autistic

The Most Complete Map of the Universe

Elsewhere on the Web

User Comments

Please type your comment and click Post. If you’re not already logged in you will be prompted to log in or register

  • The Atlantic Wire on Twitter
  • The Atlantic Wire RSS Feed
  • The Atlantic Wire iPhone App