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In a move that has surprised approximately no one, Blockbuster has filed a request to extend its deadline for filing its post-bankruptcy reorganization plan yet again, this time to the middle of March. BB is requesting the additional time due to “the size of the company and the complexity of issues in reorganization.”

According to the filing:

“At the current time, in view of, among other things, the dynamics of the market, the importance of the Christmas season results to the finalization of the business plan and to the decision-making process with respect to store closings, a consensus has not yet been achieved with respect to the debtors’ business plan and the optimum strategic plan and footprint for the reorganized enterprise . . . As a result, despite the current milestones, which have been extended since the commencement date, it is still premature to file a plan and accordingly, the debtors require an extension of their exclusive periods to file a chapter 11 plan.”

The longer Blockbuster delays its reorganization and emergence from bankruptcy, the more it increases the odds that even fewer consumers will notice or care. This is a dangerous game for BB to be playing—do you think that the long-delayed Blockbuster 2.0 will fare any better than its first incarnation?

(via Home Media Magazine)

10 Responses to “Blockbuster Seeks to Delay Reorganization Plan Filing Yet Again”

  1. Member [Join Now]
    starman15317

    Just die already.

  2. Member [Join Now]
    s142424

    If they’re waiting for their new ad campaign to save them, they’re screwed.

  3. Member [Join Now]
    spiralone

    No matter how complex, they’re just delaying the inevitable. Public sentiment seems to be against them so I really don’t know anything they can do to keep this behemoth afloat. Blockbuster 2.0 = probably just more of the same old crap.

  4. Visitor [Join Now]
    New Year [visitor]

    Personally I hope they continue. I just like to visit the brick & mortar stores to get my movies. Surfing on-line isn’t the same as visiting a store. I have no vendetta against BB. No one forces me to pay what they ask – I can always choose a different source.

  5. Visitor [Join Now]
    Jason [visitor]

    Agree with both of you. And hoping the video store’s days last a little longer!

  6. Member [Join Now]
    starman15317

    I do miss the video store too, but I’d rather not have BB. I’ve realized that the video store is dead.

  7. Member [Join Now]
    s142424

    I love my local video stores, but I get much better customer service than I EVER got at Blockbuster.