Movie Gallery May Close another 1,000 Stores

Closing more than a third of its stores? Just a warm up - unfortunately for Movie Gallery employees and the landlords this business is shot. The united states has more than three times the retail square feet per person than any other country in the world. When the price of gasoline rises, which it will, shipping to suburban strip centers in secondary markets becomes even more difficult than filling the family suv up to take a 30 minute trip to the closest regional mall.

Video-Rental Chain Movie Gallery Weighs Second Restructuring

Hollywood Video chain owner Movie Gallery Inc. could close about 1,000 stores as it embarks on its second major restructuring in a little more than two years, people familiar with the matter said Thursday.

The video-rental chain, based in Wilsonville, Oregon, operates more than 2,700 locations across the U.S. It is struggling under some $600 million in debt and a continued decline in the store-based video-rental business.