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Hollywood Entertainment Corp., [1] more commonly known as Hollywood Video, was an American video rental store chain. Founded in 1988, the chain was the largest direct competitor to Blockbuster Video until it was acquired by Movie Gallery in 2005. [ 2 ]
The company relocated its headquarters to Wilsonville, Oregon (home of the Hollywood Video subsidiary), in late 2008. [13] [14] [15] In January 2009, they closed their Wilsonville distribution center. [15] In early 2009, Movie Gallery operated about 2,700 locations and 1,300 Hollywood Video locations in the United States. [16]
But it was forced into bankruptcy a second time in February 2010. During a company-wide conference call on April 30, 2010, it was announced that all U.S. Hollywood Video, Movie Gallery, and GameCrazy stores would file for Chapter 7 bankruptcy in May 2010 and wind down business. [7]
On Tuesday, Movie Gallery (MVGR) filed for bankruptcy for the second time in less than 3 years. The Oregon-based chain, America's second-largest video and game rental company, cited increased ...
Family Christian Stores – filed for bankruptcy in April 2015, forced to liquidate all stores in 2017; Harmony House – Michigan; Hastings Entertainment – filed for bankruptcy in June 2016. Remaining stores closed October 31, 2016 [132] Hollywood Video – ceased operations in May 2010 [133]
Cineworld/Regal just filed for Chapter 11 bankruptcy protection for its theatres in the U.S.and U.K. Fortunately, AMC is in a very, very different situation — because retail investors embraced ...
To counter the Blockbuster offer, Hollywood Video agreed to a buyout in January 2005 by a smaller competitor, the Dothan, Alabama-based Movie Gallery. Since then, Movie Gallery has filed for bankruptcy twice and its entire chain of stores has been liquidated.
Here's how these celebrities dug themselves out of bankruptcy and piled up millions of dollars — all over again.