Hollywood Video May Close 1,000 Stores

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I know, right? Yes, Hollywood Video does still have 1,000 retail locations it can close, and it may do exactly that, according to reports today. The move by owner Movie Gallery would nudge more than a third of its 2,700-store chain off the books, thus liquidating its DVD inventory and paying down some of its hefty $600 million dollars of debt. Representatives had no comment on the closures, which, for a company that so rarely has your preferred movie in stock when you want it, sounds just about right. [WSJ]



Comments

  • SunnydaZe says:

    It is a sweet time to be a DVD player owner. The Blockbusters in my area did a recent clearance to make room for Blue-ray and I found every DVD movie I have ever wanted for around $2 to $5 dollars. (The same goes for PS2 games)
    I imagine I will be ready for Blue-ray and a PS3 around 2058....

  • whoneedslight says:

    I went to a Hollywood Video to try and purchase some Blu-Ray discs around Christmas time. I asked where the new discs were located and was told they didn't carry them, but anything on the Blu-Ray rental rack that I wanted to buy could be purchased for $12.99. That's a pretty good price for a previously viewed Blu-Ray, no?

  • SunnydaZe says:

    Releasing the hidden comment...

  • anonymous says:

    I work for Hollywood Video, and obviously can't say where. They just closed down a bunch of stores in the area. I was lucky enough to get transfered to a new one, but my old store was given 3 days notice. Just, "hey, your store is closing. You're all out of jobs. We'll be there tuesday to help you pack up." We weren't allowed to tell our customers, so we didn't lose our last 3 days of business. That was just the beginning, in October. As of now, all but 4 stores in our district are closed. Some of them turned into "outlet stores." Yeah right- those lasted less than a month. Other stores weren't even that lucky. One day, a manager would come to open the store to find that the locks were changed. Turns out, corporate wasn't paying the rent. nice, right? Hollywood just filed bankruptcy AGAIN, and is hiring a liquidation company to help out.I give it

  • anonymous says:

    I started a store closure process in march.. I was noticed a week earlier only because my DM was let go..I was actually suppose to find out on the 12th, which was the same day that my liquidation signage arrived in my store..
    This has been the most stressful and tedious part of my almost 5 year career at hollywood video.
    AND to top it off we can no longer refund/exchange product EVEN if customers come in to rent..
    And there are customers that have 200-300 points on our loyalty program that the company is trying to refuse to refund..I went from loving this company, and I LOVED working for it.. TO almost not wanting to go to work daily..
    The HIgher ups of this company have made so many damn bad decisions that have caused all of these problems.

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