Bankruptcy Puts Future of Game Crazy Stores in Jeopardy Again
Industry Gamers reports that after this round of closures the chain will be down to only 250 remaining Game Crazy outlets. From the around 480 stores we estimated they had left in our prior story that would peg this reduction at something on the order of another 230 locations. The company also plans to shutter 760 of its rental outlets leaving 1,111 Movie Gallery and 545 Hollywood Video locations.
In an official statement, Movie Gallery states that the previous round of store closings proved insufficient, claiming that "...the company determined that [another] Chapter 11 filing was the appropriate next step in its ongoing restructuring." Movie Gallery continues to focus on a strategy of fewer, more profitable stores.
what do you want to bet the C level's been getting 6 figure bonuses the last 5 years in a row anyway?