Blockbuster to File Chapter 11

Blockbuster Inc. (Dallas) is expected to file for Chapter 11 bankruptcy within the next few days, reports The Wall Street Journal.

The retailer has more than $900 million in debt and has struggled to stay viable as consumers’ movie and game rental habits have moved from rental stores to mail and Internet-based services.

Blockbuster's restructuring plans would include closing all but a select number of stores while ramping up its digital distribution offering, according to The Journal.