As Movie Gallery moves into bankruptcy, the fate of both Hollywood Video and Game Crazy locations throughout North America are nearing an end. As a result of this new filing for bankruptcy, over 760 locations will be liquidated and closed immediately.
After this move, Movie Gallery will use its remaining cash on hand to continue operating as normal and hopes to emerge with a new business model that will yield better returns. This is the second time in three years that Movie Gallery has filed for bankruptcy.
It's not clear exactly how many of those stores will be Game Crazy locations, but after the closings the company will be down to just 250 Game Crazy stores. Last year, Game Crazy closed around 200 stores out of 680 locations, so that would seem to indicate that well over 200 stores are being closed yet again.
Movie Gallery as a whole will have a total of 1,906 stores left in the U.S., including 1,111 Movie Gallery stores, 545 Hollywood Video and the aforementioned 250 Game Crazy locations.
Movie Gallery as a whole will have a total of 1,906 stores left in the U.S., including 1,111 Movie Gallery stores, 545 Hollywood Video and the aforementioned 250 Game Crazy locations.
After this move, Movie Gallery will use its remaining cash on hand to continue operating as normal and hopes to emerge with a new business model that will yield better returns. This is the second time in three years that Movie Gallery has filed for bankruptcy.