Another day, another grim bit of news from the former king of video rental. Blockbuster’s Chief Financial Officer Thomas Casey has left the company, according to a BB regulatory filing. Casey was “pushed out” at least in part because of his inability to come to an agreement with BB’s bondholders, says an anonymous studio source.
Wedbush Morgan analyst Edward Woo summed up Casey’s resignation/dismissal thusly:
“It’s obviously not a good sign that in this very difficult and challenging financial times for Blockbuster to lose your CFO . . . This just adds more uncertainty to a very [serious] situation.”
Is this yet another harbinger of BB’s all-but-certain upcoming BK, Insiders? Could CEO Jim Keyes be far behind his departed colleague?
(via Home Media Magazine)