Movie Gallery / Hollywood Video 520 Store Liquidation - Starts Thursday 9/27/07

little_krampy

little_krampy

CAGiversary!
Credit goes to Whatdouknow at SD

They are not releasing a list of stores, but I googled my city and "hollywood video closing" and found one in my town that is closing. Maybe calling a store would get you more info on what is going on in your region. If anyone finds out what the markdown will be please post!!!


Movie Gallery Announces Consolidation of Store Operations
DOTHAN, Ala., Sept. 25 /PRNewswire-FirstCall/ -- Movie Gallery, Inc. (Nasdaq: MOVI) today announced that it plans to close approximately 520 underperforming and unprofitable Movie Gallery and Hollywood Video stores. As previously announced, the Company has been accelerating its efforts to conserve cash and reduce the Company's cost structure to address the financial and industry challenges it has been experiencing.

Joe Malugen, Chairman, President and Chief Executive Officer of Movie Gallery, said, "Closing these stores was a difficult, but necessary decision to help protect the future of this Company. These stores are being closed after evaluating a number of factors, including store profits and the terms of the leases at each location. This action will allow us to focus our resources on the approximate 4,000 stores that have a stronger operating performance and prospects for future growth.

We thank our many associates and partners who have remained loyal to us over the years," continued Malugen. "Where possible we will work with the customers at these locations to transfer their accounts to other nearby Movie Gallery and Hollywood Video locations. The talented associates and partners in the stores that will be closing have been notified. As always, we remain committed to treating all affected employees fairly and providing the necessary assistance to make this transition as smooth as possible"

Movie Gallery has retained an outside professional services firm, the Great American Group, to assist it in conducting sales of the inventory at the closing stores.
 
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As far as I know, there are only 3 in my region (which is mostly comprised of California stores) that are closing. One in Reno, one in Las Vegas, and one in Greenback, or something like that. By the way, it seems like this is only the first wave of store closures, so we may see another 500 or so stores close.
 
My local one started this last month and closed last week. All games were a flat $19.99, it started at 20% off then it went to 30%, then 40% off etc. until 90%. By 80% most of the good stuff was gone and at 90% all that was left were old sports games and some older non popular games. All next gen games were removed before the sale started.

Movies were at $14.99 and $9.99 starting price and followed the same discounts as the games but generally were 10% less (like when games were 20%, movies were 30%).

My best deals were Flatout 2 for $3.99 and some game magazines for $0.60 - $1.20.
 
I hope my Hollywoon Video doesn't close. There is only one in a 30-40 mile radius of Mansfield. CHeap games would be cool, but I like renting games that arent going to have that much re-play value.
 
[quote name='YoshiFan1']All games were a flat $19.99...it started at 20% off then it went to 30%, then 40% off etc. until 90%. All next gen games were removed before the sale started.[/QUOTE]
This is what I was afraid of...liquidations are always disappointing to me. The price point at which I like to buy games is much lower than the average person. I'll probably still check it out...
 
[quote name='little_krampy']This is what I was afraid of...liquidations are always disappointing to me. The price point at which I like to buy games is much lower than the average person. I'll probably still check it out...[/QUOTE]

What made it even worse was some used games were in the $4.99 - $7.99 range before the going out of business sale. They were all raised to $19.99 so it wasn't until the games got to the 50%+ range that they were even at the price level they were before the sale started. Even at 70% off, an old $4.99 game was still $5.99 ($19.99 less the $13.99 discount).

You also had non informed parents picking up anything because it was cheap, yet could be found for much less at GS and EB.
 
This wouldn't be bad but I have yet to see Hollywood Video have decent prices on their games. Last time I was in there they had a used copy of the original SOCOM for like $14.99 -- Yeah, I'll be holding off unless there's some good 360 stuff.
 
[quote name='Walt Jay']I found a post saying 22 stores in Illinois were closing, but I haven't found the actual locations yet.[/quote]

HOLY CRAP! Thanks for the heads up!
 
theres a few in the city that i know of but not sure if theyre actually closing. it would be nice though to find out which ones.
 
2 questions real quick, 1 is there a list of store closings, 2 i've already found a list for the seven cities region in virginia, what i'm looking for store closing's list for richmond va.
 
I know of one in Miami, Florida that is closing if that helps, it's the one on 120th Street South West and 127th Avenue.
 
[quote name='Walt Jay']I found a post saying 22 stores in Illinois were closing, but I haven't found the actual locations yet.[/QUOTE]
And a local news site said ~25 in Virginia are closing
 
[quote name='YoshiFan1']My local one started this last month and closed last week. All games were a flat $19.99, it started at 20% off then it went to 30%, then 40% off etc. until 90%. By 80% most of the good stuff was gone and at 90% all that was left were old sports games and some older non popular games. All next gen games were removed before the sale started.

Movies were at $14.99 and $9.99 starting price and followed the same discounts as the games but generally were 10% less (like when games were 20%, movies were 30%).

My best deals were Flatout 2 for $3.99 and some game magazines for $0.60 - $1.20.[/QUOTE]

There was a store here in Birmingham that pretty much did the exact same thing. A bunch of crappy games that were really expensive (no next-gen titles). The movie selection was great however. I didn't really see anything I wanted, but my dad picked up a bunch of movies for only $7.
 
Humm anyone heard anything about California based stores closing? I tried a Movie Gallerie in Cloverdale and she told me I would have to call corporate then hung up on me :whistle2:s
 
[quote name='Zhanmadao']the one at rowland heights, ca is closing after it was being reconstructed lol[/QUOTE]

Epic failure.
 
I saw a list online someplace that a bunch of MG and HWV stores in CO were closing, the list was small(7 stores), but since I'm not from CO, I didn't pay much attention to it.

Now, if anyone has a list of PA stores closing and any are near me, watch out.
 
I'm in CO do you know where you saw the list?

[quote name='IAmTheCheapestGamer']I saw a list online someplace that a bunch of MG and HWV stores in CO were closing, the list was small(7 stores), but since I'm not from CO, I didn't pay much attention to it.

Now, if anyone has a list of PA stores closing and any are near me, watch out.[/quote]
 
LOL Nevermind....

Apparently, I didn't pay much attention to the websites I was getting the info from and the info was from uhhh 2005. Well, color me embarassed.
 
[quote name='jedi0077']I hope my Hollywoon Video doesn't close. There is only one in a 30-40 mile radius of Mansfield. CHeap games would be cool, but I like renting games that arent going to have that much re-play value.[/quote]

Mansfield Ohio? My Cousins live there, and the family operates the DQ there


But yeah, if my HV close, Family Video would have a field day..

Blockbuster already left, so we only have 2 Video Stores left, HV and Family and whatever The Pharm rents
 
[quote name='derder']fuck its closing near me. What do I do with my 40 dollars in store credit?[/QUOTE]

Um, spend it on cheap games?
 
As I think there's only one stand-alone GC store around here, if any HV stores close around here, their attached GC store will most likely close down.

I wish someone had the list posted, so I could see if any stores around here are closing.
 
[quote name='RawisJericho']So there will be no next gen games for sale?[/quote]

Really? Next/Current Gen games/accessories/hardware is why this post peaked my interest!!!
 
Someone please post up those Illinois stores closing. There are several HV/GC combos around me.
 
Woops, I made a post in the regional forums before seeing this. The Hollywood videos/Gamecrazy at Lake Creek & 183, as well as Mopac & 2222 are closing (Austin).

Right now its 20% off whats left, to be bumped up in the following weeks.
 
I sure hope all the stores close, everywhere! It would be great if absolutely the only brick & mortar place to deal in used games was Gamestop/EB Games! I hate options!
 
[quote name='mephitical']I sure hope all the stores close, everywhere! It would be great if absolutely the only brick & mortar place to deal in used games was Gamestop/EB Games! I hate options![/quote]

I liken Gamecrazy to Ames. Being an option doesn't make it a good option.
 
What a waste of time it was going to the GameCrazy in Indianapolis (38th and College). The two employees in that half of the store were furiously packing things up and basically told me, "if you find something you want, it's 20% off", with the unspoken implication that I had to find it before they boxed it up to send away. By the time I got there around 3 PM EDT, all that was left out were a pile of Dreamcast controllers for ~$3 after discount and a whole lot of newish PSP games that I wasn't interested in.

The rental games were priced at a flat $15.99 each, no matter the platform. If one doesn't mind having a rental copy, they had at least five copies of GC Twilight Princess for that price. Sadly, all they had on the PS3 rack were sports games.
 
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