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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.
Apr 16, 2010 · Yes, even the fixtures were for sale at some of the 760 stores that Hollywood’s parent company, Movie Gallery, began closing just after it announced in February that it was filing for Chapter 11 bankruptcy protection — for the second time in the past three years.
Feb 7, 2010 · NEW YORK - Movie Gallery Inc., owner of the Hollywood Video movie rental chain, has filed for Chapter 11 protection and plans to close 805 stores — about a third of its total. Its the second trip through bankruptcy court in just three years for Movie Gallery.
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 contents of the company's headquarters were auctioned off in August 2010. [21]
May 10, 2010 · The acquisition made Movie Gallery the second-largest rental chain in the country but it has been forced to close more than 2,400 of its stores in the past three years, according to court...
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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.
