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- Movie Gallery Inc., the owner of struggling movie rental chain Hollywood Video, is planning to close its remaining stores and liquidate as consumers are increasingly getting movies through the mail, vending machines and high-speed Internet connections.
www.today.com/popculture/movie-gallery-plans-close-all-stores-liquidate-1C9401674
In response, Hollywood Video agreed to a buyout on January 10, 2005, by Movie Gallery, a smaller competitor. Movie Gallery paid $860 million, $13.25 per share, and the assumption of $380 million in debt.
The last US Movie Gallery and Hollywood Video locations closed on July 31, 2010, and the liquidation sale was completed. The remaining Canadian division outlets also closed during the week of August 8.
- The Family Business
- #Savethevideostore
- Pre-Streaming Nostalgia
- Next Act Or Final Credits?
Family Video traces its company historyback to 1946, when Clarence Hoogland founded the distribution business Midstates Appliance & Supply Company, according to the company. A little more than three decades later, when Clarence’s son Charlie was running the company, it became a distributor for the first supplier of videocassettes for Hollywood stud...
Before the chain temporarily shuttered in March along with scores of other retailers, Family Video ironically had one of its best weekends in years. “The first week it was like, ‘Well, okay, we’re going to be quarantined, it might be kind of fun. Let’s pick up three or four movies and popcorn,’” Dye said. After the stores closed, many of the chains...
To some extent, Family Video is tapping into nostalgia for the era when video stores were the dominant channel for at-home viewing. That era had a meteoric rise and fall. An industry, sparked by hobbyists and then led by mom and pop stores at first, was built out of pretty much nothing over the course of a few years, as Josh Greenberg chronicled in...
Family Video faces a demographic challenge that could ultimately pose its biggest existential test. Its average customer is well over 40, Dye said. For younger customers, “without like a real ambassador, like their parents or a relative or even a friend that is older, to say, ‘Let’s go to a store’ — it just probably doesn’t cross your mind,” Dye sa...
- Ben Unglesbee
Apr 16, 2021 · Movie Gallery focused on locations in mostly rural areas, and Hollywood Video opened in urban areas to compete with Blockbuster. Although it was at one point the second largest rental store, Hollywood Video ceased operations in 2010 when Movie Gallery filed for bankruptcy.
In response, Hollywood Video agreed to a buyout on January 10, 2005, by Movie Gallery, a smaller competitor. Movie Gallery paid $860 million, $13.25 per share, and the assumption of $380 million in debt.
Aug 8, 2012 · When Hollywood Video and its parent, Movie Gallery, went out of business in 2010 and declared bankruptcy, they had only one real asset: unpaid fees. About 3 million U.S. residents owed...
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May 10, 2010 · By Michael Felberbaum. Movie Gallery Inc., the owner of struggling movie rental chain Hollywood Video, is planning to close its remaining stores and liquidate as consumers are...
