Blockbuster Gift Cards to Expire Next Week
According to fine print on the company's Web site, as part of its bankruptcy filing, all gift cards will expire on April 6.
The move comes ahead of Blockbuster's auction set for April 4. Reports surfaced earlier this week that Blockbuster may receive an unexpected bid from a South Korean wireless communication company.
According to a Blockbuster spokesperson, the new owners could decide to honor the gift cards.The auction will open with a "stalking horse" bid of $290 million received from Cobalt Video. Earlier in the week the struggling movie rental chain also reported a loss of $68.4 million for the period ended Feb. 27. Blockbuster is looking to terminate leases on 187 stores, according to a court filing. --Written by Jeanine Poggi in New York.
>To contact the writer of this article, click here: Jeanine Poggi. >To follow the writer on Twitter, go to http://twitter.com/jpoggi. >To submit a news tip, send an email to: email@example.com.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV