Blockbuster LLC, formerly known as Blockbuster Ritz Video, was an American-based provider of home movie and video game rental services.
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13 Facts About Ritz Video
2.
Ritz Video had the idea of a 2, 500-acre Blockbuster sports and amusement park in Florida, something Blockbuster was still considering as late as August 1994.
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3.
Original Blockbuster company, Blockbuster Ritz Video Inc, was merged into the parent company Blockbuster Entertainment Inc which had earlier replaced the Blockbuster Entertainment Company.
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4.
Ritz Video had offered various relocation packages to all of its Fort Lauderdale staff.
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5.
Ritz Video introduced a new business strategy that included enhancements to existing stores.
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6.
Ritz Video hired Jeff Stegenga to be its chief restructuring officer in an effort to satisfy bondholder demands and recapitalize the company.
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7.
Ritz Video was replaced by Dennis McGill, formerly CFO of Safety-Kleen Systems, Inc On September 23, 2010, Blockbuster filed for Chapter 11 bankruptcy protection due to challenging losses, $900 million in debt, and strong competition from Netflix, Redbox, and video on-demand services.
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8.
Names Blockbuster Express and Blockbuster Ritz Video Express had been used for smaller Blockbuster retail stores in the United Kingdom.
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9.
In 1994, Australian store numbers rose to 54 with the acquisition of Major Ritz Video and Focus chains in both Victoria and South Australia.
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10.
Ritz Video Ezy committed to the master franchise agreement with Blockbuster for 10 years operating the brand with the possibility of renewal for a further 10 years after that.
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11.
Ritz Video had acted as a guarantor towards Blockbuster's remaining debt.
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12.
Ritz Video once had an Irish subsidiary, Xtravision, which did not operate under the Blockbuster brand name.
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13.
Ritz Video had already closed down its stores in Ecuador, Portugal and Costa Rica.
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