Blockbuster Inc. Chapter 11 Recapitalization Plan
Impact Blockbuster Canada
TORONTO, Sept. 23 /CNW/ - Today Blockbuster Inc. announced that it is
undertaking financial recapitalization through the Chapter 11 legal
process in the U.S. in order to be in a stronger fiscal position for the
future. Blockbuster Canada is not part of this legal process in the
U.S. and is not impacted by it. All of Blockbuster Canada's operations
are conducting business as usual.
"Blockbuster Canada operates independently of the U.S. and is
financially stable. We have the assets and cash flow to execute our
business plan," says Barry Guest, Vice President and General Manager.
"Blockbuster Canada continues to be committed to serving our customers
and keeping the business healthy for our nearly 5,000 employees in our
440 locations across the country."
Blockbuster Canada was not included in the Chapter 11 filing and is not
a party in the legal proceedings. All of Blockbuster Canada's
operations are open and serving customers in the normal course. Vendors
in Canada should not expect any changes in how Blockbuster Canada does
business with them. Invoices will be paid in the normal and ordinary
course, and we expect no interruptions in the delivery of goods and
services from our vendors.
"As a long time business partner, we will continue to support
Blockbuster Canada to ensure that their customers can rent or buy the
movies they are looking for," says Steven Dorman, President, Universal
Studios Home Entertainment Canada. "Going into the busiest period of
the year, it will be business as usual for Blockbuster and Universal
Canadian consumers can continue to count on Blockbuster Canada for the
best selection in movies including the best access to new releases, TV
and games as well as our convenience with more than 440 locations across
Canada and great customer experience.
For more information on Blockbuster Inc.'s announcement, please visit www.blockbuster.com/recapitalization.
About Blockbuster Canada
Blockbuster Canada is an indirect subsidiary of Blockbuster Inc., with
more than 440 stores across Canada. Blockbuster Inc. is a leading
global provider of in-home movie and game entertainment, with stores
throughout the Americas, Europe, Asia and Australia. Blockbuster Canada
may be accessed nationally at blockbuster.ca. Blockbuster Inc. may be
accessed worldwide at blockbuster.com.
SOURCE BLOCKBUSTER VIDEO CANADA
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