The recession hit many large entities and enterprises hard. Many of these entities were staples in American culture and their demise was assisted by the invention of new technology and better access to entertainment, note many lawyers San Antonio offers. Blockbuster is the prime example of this. Though the chain has attempted to ride out the drop in business following 2008, it has unfortunately suffered loss of clients and loss in the technology race. New franchises such as Redbox caused a decrease in Blockbuster’s success, especially in the wake of the recession. The convenience and lower price of such entertainment staples in the average American family, contributed greatly to the demise of the once profitable company. Though some stores still remain, they are slowly closing one by one. It’s often a sad scene for those that suffer the heartbreak from nostalgia. Blockbuster itself attempted to revamp its revenue by instituting it’s own version of Redbox but unfortunately it was not enough to fully survive.
So far most of the stores have been closed, but starting in the new year of 2014, only fifty will remain across the country. It was no secret that the video giant had continuously been suffering loses. A trend that many business owners in the wake of the recession could relate to. What was more devastating in the past and towards the future, is the loss of jobs of several of Blockbuster’s employees. Unfortunately, this is a common occurrence in companies that need to scale back their financial output. It’s often the best decision but as many businessmen will attest to, it is not easy.
Attorneys in San Antonio know that the decision to close a business is a difficult one. Often, the decision remains a personal one as opposed to purely business. Many feel overwhelmed by the process, especially if they attempt to file for bankruptcy or other business moves alone. That’s why it’s important to seek an attorney San Antonio TX residents can depend on for adequate counsel in order to be prepared and well advised of the legal road ahead. There are many myths surrounding bankruptcy and most times it’s the best move for several reasons. If you have questions regarding bankruptcy contact (210) 503-2800 to schedule a free consultation and speak to our lawyers San Antonio can trust.