Archive for the 'Hollywood Video' Category

What Will Replace Movie Gallery Stores?

Movie Gallery is closing its remaining 2,400 namesake and Hollywood Video stores after filing for bankruptcy last year. New technology, such as streaming video, and rivals like Netflix, are killing off brick and mortar movie-rental outlets.

Landlords could have a similar announcement by rival Blockbuster Inc. to look forward to in the future, as that chain deals with similar problems.
Continue reading ‘What Will Replace Movie Gallery Stores?’

Blockbuster Buying Movie Gallery Assets?

An article in today’s Wall Street Journal says that Blockbuster Inc. is in talks with bankrupt Movie Gallery to buy some of the latters assets. It did not specify what assets Blockbuster wants to purchase.

We would assume that it won’t take on Movie Gallery’s Hollywood Video leases. Blockbuster is already closing about one-fifth of its 5,000 stores around the world.
Continue reading ‘Blockbuster Buying Movie Gallery Assets?’

Movie Gallery Could Close 1,800 Stores

Movie Gallery might file bankruptcy this week and could end up as one of the first big chains to close massive amount of stores. According to the Wall Street Journal, the Hollywood Video parent could close two thirds of its units, or 1,800 locations.

This move comes as Blockbuster is in plans to close 1,000 stores of its own and reported poor holiday sales. Obviously, the physical movie-rental business is not the best enterprise to be in right now
Continue reading ‘Movie Gallery Could Close 1,800 Stores’

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September 2021

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