As Blockbuster makes its post-bankruptcy plans, Forbes has run an interesting article citing companies such as GM, Pilgrim’s Pride and Delta who have emerged from bankruptcy stronger than before. The question Forbes poses is this: can Blockbuster do the same?
According to the article, BB must use this “breathing room” of bankruptcy to reinvent itself in a dramatic way. And time is of the essence:
“With sales shrinking and losses mounting, Blockbuster needs more reinvention to keep pace with not only Netflix and Coinstar, but also Apple, Google and now Amazon, too. Is Blockbuster up for such a dramatic shift? Many wonder. This is why its time in bankruptcy is so important.
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Blockbuster must mobilize quickly and optimize its workforce and store count.
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It also needs to reduce its debt. Most importantly, Blockbuster must also reinvent how Americans consume movies, TV shows, games and
To go along with Keyes’ statement in 2008, I have my own:
“I’ve been frankly confused with consumers fascination on continuing to rent from Blockbuster”.