Blockbuster Misses Bond Payment Deadline

By Nick Brown

Law360, New York (September 02, 2010, 5:10 PM ET) -- Floundering video chain Blockbuster Inc. told the U.S. Securities and Exchange Commission on Thursday that it has missed another bond interest payment, the latest sign that the company could be forced into bankruptcy before year's end.

The semiannual interest payment due date for holders of 9 percent senior subordinated notes, or junior noteholders, came and went Wednesday, while Blockbuster struggles to get up to speed on previous debts to holders of senior bonds, according to an 8-K filing with the SEC.

Blockbuster said it couldn't meet...
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