Blockbuster Video files for bankruptcy
Business Digest: Worldwide DVD and games rental chain goes bust with debts of $1.4bn
The global DVD and games rental company Blockbuster Video has filed for bankruptcy in a New York court. According to court papers the Dallas-based company has debts of more than $1.4 billion.
Blockbuster had held onto more than 7,000 rental stores worldwide while unsuccessfully attempting to expand its online business.
In recent years company sales have fallen as consumers turn to other ways of accessing content such as as online streaming, downloading, vending machines and mail-order.
Read a full report at BBC News