To help find a way out of financial woes, Blockbuster has hired the law firm of Kirkland and Ellis.
The video rental company, based in Dallas, Texas, said on Tuesday is bringing in Kirkland and Ellis to arrange enough financing to keep the company solvent in the middle of a worsening recession.
Blockbuster spokeswoman Karen Raskopf said that the 7,500-store chain has no intention to file for bankruptcy protection. Other reports had claimed that Blockbuster hired Kirkland and Ellis because it was looking into bankruptcy filing.
Kirkland & Ellis has existed as a firm for 100 years. The firm handles areas of law including litigation, corporate and tax, intellectual property, restructuring and counseling matters.