'Twilight' Looks To Suck Blockbuster Dry
Summit Distribution, the studio behind the "Twilight" movies, said in a court filing that the flailing movie rental chain owes it $9.5 million, and that if Blockbuster doesn't pay up it should file Ch. 7 bankruptcy.
"The debtors informed Summit that the debtors would not pay Summit with respect to products that were shipped post-petition because the debtors lacked the funds to do so," according to the filing.
Blockbuster entered Ch. 11 at the end of September, suffocating under nearly $1 billion in debt.--Written by Jeanine Poggi in New York.
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