Hollywood Video closing final Ann Arbor store as chain liquidates
Hollywood Video is closing its last store in the Ann Arbor area.
An employee for the Hollywood Video store on West Stadium Boulevard today confirmed reports that the store had started a liquidation sale. The store is expected to close within about a month after the corporate parent, Movie Gallery Inc., received approval Wednesday from a bankruptcy court to close its remaining stores, the Associated Press reported.
The video rental chain last month closed stores on Packard Street in Ann Arbor and Packard Road in Pittsfield Township. At one point the chain also had stores on Washtenaw Avenue in Ypsilanti and Oak Valley Drive in Pittsfield.
Bloomberg reported earlier this month:
The company filed for Chapter 11 bankruptcy in
February, buckling under the competitive pressure from Los Gatos'
movies-by-mail service Netflix Inc., DVD kiosk company Redbox and
delivery of movies and TV shows over the Internet. The company listed
debt of $500 million to $1 billion and assets of as much as $50 million
in Chapter 11 documents.
Contact AnnArbor.com's Nathan Bomey at (734) 623-2587 or nathanbomey@annarbor.com. You can also follow him on Twitter or subscribe to AnnArbor.com's newsletters.
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