Parent company Movie Gallery set to close its doors.
An e-mail tipster said Movie Gallery, the parent company of Game Crazy and Hollywood Video, made the announcement yesterday during a store-wide conference call. The company will begin liquidating all of its remaining stores in roughly two weeks.
Calls were made to numerous Game Crazy stores and several store managers were able to confirm the accuracy of the information.
In September 2009, Movie Gallery closed nearly 200 of its 680 underperforming stores in the U.S. during a company-wide restructuring plan. In February 2010, the company filed for Chapter 11 bankruptcy and closed hundreds of additional Game Crazy stores. Only 250 stores remained opened in the U.S.
As of the writing of this story, Movie Gallery has not issued a statement on its closure. Requests for comment have been made. We'll update this story as we hear more.