Blockbuster has received an extension to Feb. 4 to file its restructuring plan in order to emerge from bankruptcy protection, according to a regulatory filing with the Securities and Exchange Commission.
Battling hefty debt and intense competition, grocer A&P filed for bankruptcy on Sunday and has secured $800 million in debtor-in-possessing financing to keep the 395-store chain open and operational during the proceedings.
New York City - Blockbuster filed for bankruptcy early Thursday morning in its latest attempt to overcome nearly $1 billion in debt. The chain filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of New York. As part of its re-capitalization plan, Blockbuster said it would attempt to reduce its debt load to $100 million or less.