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Blockbuster blasted by bankruptcy fears

Posted on March 4, 2009 2:00 PM
Blockbuster Inc. shares plunged 77% Tuesday in response to speculation the video renter would later confirm that it had retained Kirkland & Ellis LLP to consider restructuring options, including a prepackaged bankruptcy.

Trading in the Dallas-based company's stock was halted in midafternoon, initially without explanation, after its price fell to 74 cents per share. The decline reduced the value of Blockbuster shares from their 52-week high by 94%.

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