Blockbuster CFO steps down amid possible bankruptcy

Dallas Blockbuster’s CFO Thomas Casey has left the company, according to documents filed with the Securities and Exchange Commission. Casey’s last day at the video rental chain was Saturday, shortly after renegotiating the terms of his severance package which call for a lump-sum payment of $100,000 plus compensation for unused vacation time. He will also receive $7,000 to cover moving expenses, according to the SEC filing.

Casey had been Blockbuster's CFO for three years and leaves during a possible looming bankruptcy filing for the chain.

Blockbuster hired Dennis McGill as its new CFO. McGill formerly was CFO of Safety-Kleen Systems.

Blockbuster has closed hundreds of stores, and has acknowledged it may seek Chapter 11 bankruptcy organization.