Blockbuster has received bids from a team of liquidators in its bankruptcy-court auction, The Wall Street Journal reports. In case, the joint offer from Gordon Brothers Group and Hilco Merchant Resources for the DVDs and other inventory at 1,717 Blockbuster stores is approved, the pair will take over the stores and liquidate them. The proceeds of the offer for the stores’ inventory will go to creditors. The liquidators can get the right to close Blockbuster’s stores, with another suitor getting the rest of the company to continue its vending and digital businesses. If any other company wins the bidding process, it may choose to continue all Blockbuster businesses. Carl Icahn, Dish Network and SK Telecom have also placed their bids.
Click here for the story from The Wall Street Journal.