You’re not buying enough bedding, kitchen utensils, or other household knickknacks, apparently, because Linens -N- Things is about to declare bankruptcy. A restructuring firm has been hired already. Go here to if you want to read a dull article full of lots of numbers and not enough straightforward talk about why this might be happening.
And Blockbuster wants to buy Circuit City for $1 billion. Rather surprising pairing, I think. But I’m intrigued by the strategy:
“Blockbuster Chief Executive James Keyes said combining the companies would create a chain that could sell portable devices and entertainment for them, much like Apple Inc.’s stores.”
What I like is that there is a specific purpose in mind for the 2nd biggest CE chain in the U.S. Mind you, a comparison to Apple Stores is quite a lofty aspiration. But why not emulate the best?
‘Keyes called the offer “a significant premium” to Circuit City’s share price and said the combination of the chains would create “a game-changing retail concept with a sustainable competitive advantage.” ‘
Game-changing, huh? That would be neat, but we’ll need to see much, much more before Blockbuster could be given credit as a “game-changing” entity. If anything, they’ve struggled to keep up with the pace of the game. Still, I see some promise here. What could it hurt for either Blockbuster or Circuit City?
And, with uncanny timing, you should once again visit the Consumerist to vote for The Worst Company in America. Why? Today it’s American Airlines versus Blockbuster.
(I’m voting for American Airlines. These days, an airline trumps just about any other company in terms of worst-ness.)
don’t diss blockbuster…….
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