Remember back when you used to make it a Blockbuster Night?

That was probably before the days of Netflix and other home video delivery services, which have been tearing the traditional video rental chains asunder since the beginning of the century.

Once upon a time, Blockbuster was the biggest game in town -- now, according to the Los Angeles Times, the once-mighty company is $1 billion in the hole. Remember back when you used to make it a Blockbuster Night?

That was probably before the days of Netflix and other home video delivery services, which have been tearing the traditional video rental chains asunder since the beginning of the century.

Once upon a time, Blockbuster was the biggest game in town -- now, according to the Los Angeles Times, the once-mighty company is $1 billion in the hole.

Blockbuster executives and the company's senior debt holders held meetings with six Hollywood studios last week to announce their intention to enter a "pre-planned" bankruptcy in mid-September. Maintaining the support of Hollywood's film studios during the Chapter 11 process will be critical so that Blockbuster can continue to rely upon an uninterrupted supply of new DVDs.

While in a state of official bankruptcy, Blockbuster hopes to restructure its $1 billion debt load and escape leases on 500 or more of it 3,425 stores in the U.S.

The question is -- is it worth it? Do enough people still actually leave their homes to get DVDs to justify such a process?