Blockbuster on the Way Out?

Blockbuster struggled to compete with Netflix for years, and now it finally looks like the war has taken its toll. According to Engadget, the company is near financial destruction:

In a recent SEC filing, the company made perfectly clear that there was serious risk that it wouldn’t be able to refinance its crushing debt load in order to stay afloat for a wee bit longer; in fact, it noted that said quandary raised “substantial doubt” about its “ability to continue.”

Not that anyone is really surprised, but competition is always a good thing.