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This Post Has Been Edited by the Author
In Reply to: RE: As much as I have despised Blockbuster in the past... posted by racerguy on March 30, 2009 at 18:27:00
updated 8:12 p.m. ET, Mon., April. 6, 2009
NEW YORK - Movie rental company Blockbuster Inc. said Monday the risk that it may not complete financing deals raises “substantial doubt” about its ability to continue as a going concern.
Dallas-based Blockbuster, which has struggled amid the rising popularity of DVD-by-mail services like Netflix, disclosed the warning in a filing with the Securities and Exchange Commission. The company had already cautioned last month that its auditor was likely to raise doubts about its ability to stay in business.
A going-concern qualification refers to an auditor’s assessment of a company’s ability to continue to operate for the foreseeable future.
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