According to an article in the Dallas Business Journal, movie and video game retailer Blockbuster Inc. as announced that it plans to close as many as 960 stores by the end of 2010, prompting some analysts to suspect a future Chapter 11 bankruptcy filing by the retailer.

The article said:

“Earlier in the year, Blockbuster denied that it was considering a bankruptcy filing after hiring law firm Kirkland & Ellis. Blockbuster said Kirkland & Ellis was hired as a …

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… promoted a new CEO, and that has investors hoping that the company can turn itself around.

Blockbuster; the company closed 300 stores in 2009, and it is supposed to close over 600 more in 2010.  The company is trying to reshape its business model by focusing on more kiosks and more on-demand services, but insiders worry that the transformation is going to be too expensive for the company.  That combined with the fact that the company lost around $183 – $193 million in 2009 means …

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