Blockbuster Raises Possibility of Bankruptcy; Stock Swoons

Blockbuster (BBI) shares are trading sharply lower after the company said in its new 10-K filing with the SEC that it may have to file for protection from creditors under Chapter 11 of the federal bankruptcy code. The company is groaning under a heavy debt burden, and its operations have taken a big hit from new competitors, including the rapidly growing Redbox chain of video kiosks operated by Coinstar (CSTR).

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