NEW YORK (
continued to widen its loss prior to filing for bankruptcy.
The video chain reported a loss of $152.2 million for the first eight months of the year. Despite the loss, it did manage to rake in $2.19 billion in revenue during the period.
Blockbuster filed for bankruptcy in September, and is currently working to lower its massive debt load in order to emerge from bankruptcy. The company has said it will continue business as usual amid the restructuring.
Still, there's no doubt if and when the company emerges from bankruptcy it will look very different. First, there could be a new CEO at the helm. The
Wall Street Journal
reported earlier in the week that the company is looking to
replace current CEO Jim Keyes
Analysts also predict Blockbuster will shutter a significant number of stores, potentially bringing its brick-and-mortar portfolio to half its current size.
--Written by Jeanine Poggi in New York.
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