It looks like bankrupt Blockbuster will be able to keep the lights on and pay its employees for a little while longer, thanks to court approval it received today for a $125 million loan. The money will also allow BB to pay claims to studios in order to keep its inventory current.
U.S. Bankruptcy Judge Burton Lifland authorized the financing, which gives embattled BB a bit of breathing room as it struggles to get its house in order and replace CEO Jim Keyes.
Stopgap measures are all well and good, but it’s going to take some serious time and effort to get Blockbuster out of the hole its been digging itself into for years. Will consumers ever return to the company that stung them so often with late fees and dismal customer service?