Blockbuster Initiates Auction With $290 Million Bid From Four Creditors
3:10 PM PST 2/21/2011 by Georg Szalai
The video rental firm's creditors failed to agree on a recapitalization after the company filed for Chapter 11 bankruptcy in September.
NEW YORK -- Video rental firm Blockbuster said Monday it has initiated an auction process for the company with a $290 million initial bid from four large creditors.
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