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Movie Gallery Inc to close all US stores! (Movie Gallery, GameCrazy, Hollywood Video)

submitted on May 3, 2010 by WhattaDealBlog in "Stores / Merchants"
http://www.reuters.com/article.....mesticNews

Reuters) - Movie Gallery Inc., which filed for bankruptcy in February with plans to close hundreds of stores, will now shut down the balance of its 2,415 stores, according to the Wall Street Journal.

Citing people familiar with the matter, the Journal said that the company, which operates the Hollywood Video chain, will liquidate all of its stores over the next couple of months.

The company employed about 19,100 people when it filed for bankruptcy. According to the online edition of the newspaper, Movie Gallery notified employees on Friday of the added closures.

It is the second largest movie rental chain behind Blockbuster. This is the second bankruptcy filing for the company.

Movie Gallery was not available for comment.


So my understanding is that means bye bye to all Movie Gallery, GameCrazy, and Hollywood Video locations...

Hello new Netflix customers! Big Grin
     

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  Comments
  • 61047
    YanBz
    admin
    Posted by YanBz on May 3, 2010
    [reply] 2 0
    Movie Gallery filed for Chapter 11 back in February

    http://www.buxr.com/wiki/retail_bankruptcies
      61050
    • WhattaDealBlog
      professor
      1
      1
      Posted by WhattaDealBlog on May 3, 2010
      [reply] 1 0
      Yes when they originally filed they were just going to close a few hundred stores. Now it appears they are just giving up in the US and closing ALL stores.

      Eeek
  • 61052
    tammy987
    professor
    5 1 1
    Posted by tammy987 on May 3, 2010
    [reply] 4 0
    Redbox and Netflix will take over the world! Eeek Big Grin
  • 61061
    midget
    professor
    5 3 2
    10 6 2
    Posted by midget on May 3, 2010
    [reply] 3 0
    Our movie gallery is closing in the next few days. Yesterday i stopped by and picked up a whole bunch of dvd's for 99 cents apiece! Big Grin
      61073
    • onkarkulkarni
      professor
      9 4 4
      11 8 2
      Posted by onkarkulkarni on May 3, 2010
      [reply] 3 0
      Awesome Midget, you must have gotten a lot of good deals. I had one hollywood video in my vicinity but it got closed long back. Do any of these store sell games except gamecrazy? I have never tried one of these. Are they also giving good deals on their online websites?
    • 61074
    • midget
      professor
      5 3 2
      10 6 2
      Posted by midget on May 3, 2010 [reply] 0 0
      Movie gallery sells games but they're not 99 cent each. They're 80% off whatever's marked on the box. Same with new (sealed) dvd's.
    • 61075
    • WhattaDealBlog
      professor
      1
      1
      Posted by WhattaDealBlog on May 3, 2010
      [reply] 1 0
      There is a Hollywood Video here in my town. And a Movie Gallery in my wife's families town about 60ish miles away.
  • 61080
    jack69darin
    professor
    11 2 1
    Posted by jack69darin on May 3, 2010
    [reply] 2 0
    Movie Gallery closed here 4 months ago. Redbox, and Blockbuster Express are taking it over. How can the do it for a $1 a rental though.
      61089
    • WhattaDealBlog
      professor
      1
      1
      Posted by WhattaDealBlog on May 3, 2010
      [reply] 1 0
      Very simply, purchase large quantities in bulk. And get "popular" movies that people want to rent.

      Low purchase price + very low employee costs + demand = $$$$$$$$
  • 61098
    jack69darin
    professor
    11 2 1
    Posted by jack69darin on May 4, 2010 [reply] 0 0
    NICW wHTTA!

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