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View Full Version : Movie Gallery/Hollywood video finally done?


Ninja
February 3rd, 2010, 02:33 PM
http://www.thestreet.com/story/10673163/1/blockbuster-gains-as-rival-goes-bankrupt.html?cm_ven=GOOGLEFI

NEW YORK (TheStreet) -- Blockbuster(BBI Quote) rival Movie Gallery filed for bankruptcy on Wednesday and plans to shutters a "significant number" of stores.

This is the second time in less than three years Movie Gallery has been forced to run from creditors.

The prospect of a thousand stores being eliminated from Movie Gallery's portfolio, which includes Hollywood Video stores, could be a consolation for investors who have been watching Blockbuster suffer.

As a result, Blockbuster is climbing 7% to 46 cents in morning trading.

In January, Blockbuster said its fourth-quarter earnings came in lower than expected due to weak holiday sales.

Blockbuster now expects a loss between $183 million and $193 million.

Movie rental stores like Blockbuster and Movie Gallery have, of course, faced increased competition from streaming and mail-service provider Netflix(NFLX Quote)and kiosks from Coinstar(CSTR Quote).

-- Reported by Jeanine Poggi in New York.



Is hollywood video finally done? How many of you are around a hollywood video and might actually do well from them closing?

bEZ
February 3rd, 2010, 03:52 PM
We have one Hollywood in our area, but it's closer to us than any other BBV, so we would probably get some customers if they close.

KateOTomato
February 3rd, 2010, 04:23 PM
A Hollywood Video literally across the street from my store shut down a little over 3 weeks ago (all of a sudden) and we've been slammed ever since (especially the weekends). SM and DM are loving it, we just need to hire at least one more CSR as we'll be getting a bit more hours to go around now.

Also, the day after the Hollywood Video closed, the staff loaded up a truck and brought everything to the neighboring town's Movie Gallery. Now, they've notified customers that they will be closing as well (last day for rentals is tomorrow, then they will sell off everything).

movieking
February 3rd, 2010, 04:50 PM
Go here and type in the zip code to see if one near you is closing in the first round of closures.

http://moviegallery.com/storelocator.aspx

bEZ
February 3rd, 2010, 05:37 PM
thanks for the link... that one is closing, i'll probably check out their sale :)

Now the next closest one that's staying open is 18 miles away.

empbal
February 3rd, 2010, 05:50 PM
Hollywood hasn't been as much of a competitor for us as Family Video. There are about 3 around here. Anyone know how they're doing?

sobedrummer
February 3rd, 2010, 07:15 PM
Two nearest to me have closed.
Since then we've been up 40%.

charlied72
February 3rd, 2010, 08:39 PM
In my area All of the hollywood videos have closed down....but also alll but one BBV has closed

Ninja
February 3rd, 2010, 10:24 PM
Not sure about family video...but a hv far from me got padlocked. Sheesh.

Morbid Angel
February 4th, 2010, 01:52 AM
Only had one Hollywood Video in my city and it was shut down a couple of years ago. No Movie Gallery's out here. Infact, the only time I ever saw any Movie Gallery's is when I went on vacation in South Dakota.

It's really nothing short of a miracle that they're still around. But it's pretty much game over for them, I suspect. I highly doubt they'll make it to 2011.

orbitdvd
February 4th, 2010, 04:10 AM
Hollywood hasn't been as much of a competitor for us as Family Video. There are about 3 around here. Anyone know how they're doing?

Family Video's prime directive is real estate... the video stores are secondary. They are doing fine and will probably be the biggest chain to emerge from the wreckage.

bEZ
February 4th, 2010, 08:02 AM
I just called the Hollywood that's supposedly having a closing sale and the clerk knew nothing about it... he said they were still renting.

BUYMECAR
February 4th, 2010, 10:59 AM
all the hollywoods in my city have pretty much closed. the newly opened ones (1-4 years) in neighboring cities that have most likely been seeing a growth in real estate/retail in those areas are still open.

i've somewhat noticed that in my state, hollywoods tend to open while houses in the area are still in construction. blockbusters don't open until 2-3 years after development has completed. just thought that was rather peculiar.

bEZ
February 4th, 2010, 02:41 PM
all the hollywoods in my city have pretty much closed. the newly opened ones (1-4 years) in neighboring cities that have most likely been seeing a growth in real estate/retail in those areas are still open.

i've somewhat noticed that in my state, hollywoods tend to open while houses in the area are still in construction. blockbusters don't open until 2-3 years after development has completed. just thought that was rather peculiar.

Blockbusters and Hollywoods opening?? Is this post from 1996?:confused:

djblade
February 4th, 2010, 04:38 PM
I'm surprise KAWLIGA didn't post this thread and say, "Your next". lol


Man, I wonder what will happen? Filing bankrupt again isn't good for a company.

movieking
February 4th, 2010, 05:25 PM
http://moviegallery.com/pages-q10151-Restructure.aspx

From the FAQ link in the above link:

Looks like another 1000 or so stores could be in a second round of closures unless they can reduce their occupancy expenses for some of them.

empbal
February 4th, 2010, 06:39 PM
I went to one of the closing ones today and despite the massive store closing signs and "everything must go", they were still renting and on the stuff they had for sale, the prices were comparable to ours.

deathbydanny
February 5th, 2010, 05:43 AM
The one Hollywood in town was listed on that website linked by movieking as closing down soon, so I decided to go and grab some bargains.

Well, I show up and the parking lot is completely empty. This is par for the course at Hollywood, of course, so I think nothing of it until I get to the front door. All the stuff is still in the store, but the front doors are almost literally plastered with Orders of Eviction and Warrants For Eviction. Looks like Hollywood wasn't paying the rent, hah.

LeaderOfShifts
February 20th, 2010, 07:21 PM
Hollywood hasn't been as much of a competitor for us as Family Video. There are about 3 around here. Anyone know how they're doing?

It's been a few years since my new hire orientation, but aren't they owned by the same company?