Content about Subordination

September 23, 2010

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.