Core Insights - The video rental industry has experienced significant decline due to technological advancements, particularly the rise of video streaming services [1][2] - Major companies like Blockbuster and Hollywood Video filed for bankruptcy as a result of financial distress caused by the shift from physical rentals to streaming [3][4] - The refrigeration appliance industry is also facing challenges, exemplified by Norcold's bankruptcy filing and liquidation plan [5][6] Video Rental Industry - The video rental sector thrived in the 1980s with the popularity of VHS tapes, leading to the establishment of Blockbuster Video in 1985 and Hollywood Video in 1988 [1] - By the mid-2000s, DVDs began to replace VHS, and streaming services started to gain traction, leading to financial difficulties for video retail stores by 2010 [2] - Hollywood Video's parent company, Movie Gallery, filed for Chapter 11 bankruptcy in February 2010 and later converted to Chapter 7 liquidation [3][8] - Blockbuster Video filed for Chapter 11 bankruptcy in September 2010, carrying approximately $1 billion in debt, and ultimately closed all stores by August 2014 [3][8] - The final blow to the video rental industry came with Redbox Video's parent company converting to Chapter 7 liquidation in July 2024 [4][8] Refrigeration Appliance Industry - Norcold LLC, a manufacturer of recreational vehicle refrigerators, filed for Chapter 11 bankruptcy with a liquidation plan to sell its assets [5] - The bankruptcy petition was filed in the U.S. Bankruptcy Court for the District of Delaware, listing assets between $10 million to $50 million and liabilities between $100 million to $500 million [6] - Major unsecured creditors of Norcold include Dellware Electrical Appliance Co. (owed over $1.02 million), ZenCargo Freight (owed over $341,000), and Longoal Tech LLC (owed over $150,000) [6][9]