Blockbuster (NYSE: BBI) May File For Bankruptcy If Unable To Address Debt Load

Blockbuster Inc. (NYSE:BBI) said in a regulatory filing that the company will likely file for bankruptcy if it is unable to address its debt load.

Due to the 2009 operating loss that the company reported and increasingly competitive industry conditions, Blockbuster sees "substantial doubt about [their] ability to continue as a going concern," according to the filing.

A Reuters report stated that Blockbuster's overall debt totals $1 billion.