While most observers suspected that video rental Goliath Blockbuster was headed toward Chapter 11 bankruptcy, hometown paper The Dallas Morning News cited unnamed sources who say Blockbuster will file its petition by mid-September. Since the company is $1 billion in debt and has warned investors about a possible bankruptcy for nearly two years, no one should be surprised.
But a Blockbuster bankruptcy doesn't necessarily mean curtains for the once-dominant movie rental company. In fact, Atlanta bankruptcy lawyers would tell you that the process ideally is an opportunity for a fresh start.
Still, the question remains: What kind of a future should Blockbuster expect?

