Movie Gallery to shut as many as 450 stores
By Danny King -- Video Business,10/29/2009
OCT. 29 | PHYSICAL: Movie Gallery might close as many as 450 of its eponymous and Hollywood Video stores, or about 14% of its total, by the end of the year, as the No. 2 U.S. movie-rental chain struggles against increasing kiosk and by-mail sales by competitors such as Redbox and Netflix.
Movie Gallery, which has about 2,900 units, has closed 250 stores since the beginning of last month and might close another 200 by year end, the company confirmed today. The company has said it would shut 200 of its Game Crazy stores this month.
Movie Gallery has faced growing competition from U.S. movie-rental kiosk leader Redbox and by-mail leader Netflix since emerging from Chapter 11 in May 2008. In the past few weeks, Movie Gallery set up a “real estate hotline” for its landlords that promised a 48-hour response to their inquiry, implying the chain has had trouble keeping up with its rent payments. One landlord told Video Business that the chain was 20 days late paying rent to him.
The closures were reported by Bloomberg News earlier today.
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| Submitted by: | the_man (working4@theman.com) 11/23/2009 1:36:33 PM PT |
| Location: | hell |
| Occupation: | working for thieves |
yup. same thing -- what's the deal SANTA?
| Submitted by: | not saying 11/23/2009 1:31:49 PM PT |
| Location: | nope |
| Occupation: | scsa |
yeah some woman asked for who it was for and than the spelling of my name. should i give it to her? won't i be in deep $#1t if they find out who i am?
| Submitted by: | John Doe (nada@nosuchaddress.com) 11/23/2009 1:24:25 PM PT |
| Location: | nowheresville |
| Occupation: | zilch |
Yes...please, does somebody know how to get into the conference? Just tried it a min ago and they wanted to verify my ID. Or at the very least can you guys who did manage to hear it, please, please post right here on this page/article and let us know what it is they are up to. I wouldn't be surprised if all the answers that we are looking for are on that call...
Whoever you are: please do the right thing and inform your fellow MG emp.'s of their game plan so that WE KNOW how to make the next move. The last company I worked for had an "open book" policy to it's employees, from the lowly entry level temp, to the highest tier managers; everyone knew everything about the business they invest their lives into. These crooks do their deeds behind tightly closed doors. For shame...
| Submitted by: | former emp 11/23/2009 1:19:15 PM PT |
| Location: | on call |
| Occupation: | former emp |
there was no code for the call, i just told them it was for movie gallery, then the operator asked for an employee name.
| Submitted by: | Joe Schmuck 11/23/2009 1:15:39 PM PT |
| Location: | Myanmar |
| Occupation: | rentailer |
Santa Claus,
I thought you said that you wouldn't need an access code. No wonder you're now unemployeed.
| Submitted by: | Hello my name is (SLimshady@slimshady.com) 11/23/2009 1:04:19 PM PT |
| Location: | Detroit |
| Occupation: | just got un-employeed |
I tried to enter the conference but the operator asked for a code. Can anyone tell me what the conference was all about.
| Submitted by: | Cutting ties 11/23/2009 12:04:14 PM PT |
| Location: | Does it Matter |
| Occupation: | sm(former) |
Tis the season to be dishonest..errr sorry movie gallery slogan.. Let's be honest here. Rents not paid, some utilities unpaid. Huge increases in profit sharing dvd's sent( no up front monies), sell the hell out of power play-next gift cards too.. All this leads to following- it is per good source that movie gallery/hollywood will be shutting mass amounts of stores at Christmas- and all those powerplay and gift cards we pimped-worthless. Only question I have is this- obviously this company will not share to stores closing when( Christmas Eve or New Years Eve) but will mega pay have paychecks deposited on them- I mean are we to trust this ceo and company to honor anything not in their benefit..
| Submitted by: | Santa Clause (s.clause@northpole.com) 11/22/2009 10:08:34 PM PT |
| Location: | freezing north pole |
| Occupation: | gift giver |
To disgruntled ex and other employees FYI conference call with CEO Sherif is to be held on November 23--
3 pm (eastern) 2 pm (central) 1 pm (mountain) and noon (pacific) 1 877 215 0078..i got this from inside info all management and their teams are to join. Just thought maybe some ex employees would want to listen in---
| Submitted by: | Jack Smith 11/21/2009 7:51:24 AM PT |
| Location: | South |
| Occupation: | SM |
Heard of some stores closing (1 closed y'day I think), 1 that probably needs to be closed and the other is very busy store location (all MG stores). SM said the land lord is the one who came in to say corp had finally after 4 weeks, told landlord that these 3 stores where being closed. SM was shocked to hear it, and still unsure what to say to the staff since nothing has been confirmed.
| Submitted by: | long time employee 11/21/2009 7:39:47 AM PT |
| Location: | south |
| Occupation: | sm |
To all Movie Gallery & Hollywood Video people:
It is time to wake up and smell the coffee not to
keep our noses plugged!!
Something is happening that is not good and I believe
it will be sooner rather than later!!
In all my years with the company I have never seen anything like what is happening now.
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