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Blockbuster Leaves Bankruptcy Option Open 7/4/2010

According to the Jacksonville Business Journal, Blockbuster video has not ruled out a possible Chapter 11 bankruptcy reorganization after the company's stock was delisted and trading halted on the New York Stock Exchange.  In a statement by Rod McDonald, General Counsel for Blockbuster, Mr. McDonald indicated that all options are open and that Blockbuster will be prepared to file if necessary but is hopeful other ventures will be successful.  Blockbuster has closed a number of locations nationwide.  Creditors and bondholders have apparantly agreed to forbearance agreements to halt collection of over 40 Million dollars spurring questions about a possible bankruptcy filing.

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