Hollywood Video to file for Bankruptcy

[Izret101]

I don't know all the specifics on it but apparently i recieved a letter in the mail and my mother read it.

HollyWood Video is going to file for bankruptcy which means that Movie Gallery and Game Crazy will be in the same state. They are all under the same ownership.

I only hope that Game Crazy will not be closing its doors. I just resubscribed to my MVP card :-/

[ganonbanned]

That's sad, one just went out about a month ago right around here.  They always had pretty cheap compared to some of the other places.

[The Metamorphosing Leon]

The storefront movie rental business is a thing of the past. Netflix/Pirating/PPV have destroyed it. Stores can't keep enough titles in stock, generally charge more, and are less convenient. Blockbuster may stick around with their quick jump to competing with Netflix but ultimately I see no bright future for them either.

[cyberfluxor]

I can see most rental store chains dying but mom & pop stores will continue and appear over time. I do see many people buying from second hand stores and trading them back in for newer videos, only issue is selection and the lack of newer releases. This is in my opinion the "next rental store up the  road" idea. Also it's nifty because if you really liked the movie you can keep it without late fees.

[Izret101]

I think the letter arrived at my house before the information was let out to general public...

Could i in a round about way sue the company for insider trading?

[den68]

I buy a lot of used DVD's from Hollywood Video. I've never been a fan of Game Crazy though.

[Pop Culture Portal]

Wow...there are tons of those around here, including about 4 Game Crazy stores.  If they all close, that'll leave a very small amount of Blockbusters and a huge amount of mom & pop places around here.  Alot of Blockbusters have been closing here.  I take advantage of Game Crazy's Classic Plastic sales on a weekly basis.  That'll suck if I can't do that anymore.

[The Metamorphosing Leon]

I think the letter arrived at my house before the information was let out to general public...

Could i in a round about way sue the company for insider trading?

DO IT DO IT DO IT DO IT DO IT DO IT DO IT DO IT DO IT DO IT DO IT DO IT

[Sauza12]

Aww, this sucks.    Game Crazy is my favorite of the big chain stores.  Oh well, if nothing else, maybe this means I'll be able to get some great going out of buisness deals.

[Tynstar]

I never rent anything so it doesnt bother me at all. Like Den i buy used movies from them and I don't like Game Crazy. Around here all the used stuff seems beat to hell.

[Izret101]

I loved game crazy.(in Mass)

Best prices, the people working actually knew stuff, and there was a rather large selection compared to many other stores. Especially other chains.

[Mezmoron]

Don't forget...

Declaring bankrupcy doesn't mean they are going out of business or will be closing all their store and subsidaries.

Most of the time, companies declare bankrupcy to make another move (as long as they file under chapter 11 and not chapter 7).

Ken

[Tynstar]

Game Crazy out here are usually a bit more the EB and Game Stop it seems. Plus EB abd Game Stop have stuff in better condition.

[Izret101]

I know the manager at one of the GameCrazy stores in Corpus said that there were a bunch of stores closing.

[phoenix1967]

It's already starting here in Michigan. One of the HV stores I come across on the way home from work first closed its GameCrazy early this year. And just the other day I was driving by the store and it was all dark.

If the one near me closes, I'll probably find some "Mom and Pop" store to rent videos from...or check into NetFlix. I really don't like Blockbuster.