Movie Gallery Bankruptcy, Take Two: End of the Road for Video Rental?Quicklink submitted by M. Wizard Permalink
|Between 2008 and 2009, Movie Gallery's revenues fell by 30% to $1.4 billion, while its fourth-quarter operating loss increased by 52%. By late October 2009, the company was behind on its rent at many locations and had set up a hotline for its landlords to inquire about delinquent payments. At the same time, the company announced plans to close 200 stores.|
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