Blockbuster warned investors in its latest 10-k filing that it might file for bankruptcy. That the once king of home movie rentals may need to file for bankruptcy in the future is not a big suprise. The company is under pressure from both postal mail rental services, like Netflix, and a rapidly growing number of on-demand services. Blockbuster has been planning store closings but this may not be enough to keep the retailer out of bankruptcy. The Huffington Post says Blockbuster has already closed 1,300 stores and warned in its filing that there is "substantial doubt" about its ability to continue.
"The increasingly competitive industry conditions under which we operate has negatively impacted our results of operations and cash flows and may continue to in the future. These factors raise substantial doubt about our ability to continue as a going concern," Blockbuster said in a regulatory filing late Tuesday.
The rental giant also warned its strategies may fail and it may have to file bankruptcy.
"It is possible that a successful and efficient implementation of an exchange or any of the other strategies we are pursuing will require us to make a pre-packaged, pre-arranged or other type of filing for protection under Chapter 11 of the U.S. Bankruptcy Code."
Blockbuster has been rapidly deploying rental kiosks but with on-demand services growing so quickly the rental kiosks may not be enough to keep the firm out of bankruptcy.
Blockbuster warned investors in its 
