The Wall Street Journal reported Tuesday that Blockbuster Video, whose shares are trading below $1, is seeking advice on how to file for bankruptcy. Blockbuster counters it’s only trying to get help to restructure its debt.
I’m not surprised about Blockbuster, though I find it ironic how this chain drove out all the mom-and-pop video rental stores in my neighborhood and across the country. Twenty years later, they are now the endangered species. Such a cyclical world we live in. Innovate and evolve or become irrelevant. It does not help when you have idiotic, short-sighted upper management. Darwin’s theory of evolution, anyone?