A Floydada store is among an estimated 760 stores being closed by a video and video game retailer as a result of its bankruptcy filing this month.
Movie Gallery Inc. and all of its subsidiaries filed voluntary petitions for Chapter 11 reorganization on Feb. 2, according to the company's Web site. The company is an umbrella for the the Movie Gallery, Hollywood Video and Game Crazy chains.
A liquidation sale is under way at a Movie Gallery store at 302 N. Second St. in Floydada.
The company earlier had closed its Hollywood Video location at 5710 S.W. 45th Ave. in Amarillo and several hundred other underperforming stores, but the actions were not sufficient to prevent the bankruptcy filing, according to the filing.
The closings will leave the company with 1,906 stores nationwide, including 1,111 Movie Gallery, 545 Hollywood Video and 250 Game Crazy locations.
However, the retailer anticipates closing other stores during the Chapter 11 process, a restructuring page on its Web site states.
Movie Gallery stores in Hereford, Dimmitt, Dalhart, Perryton, Muleshoe, and a Hollywood Video in Clovis, N.M., remain open at this time, the Web site shows.
The retailer states it will continue to honor Movie Gallery and Hollywood Video gift cards at other stores in the area. Customers should call a customer relations hotline at 1‐877‐244‐6684 if using a card at another location is not practical.
Other information for customers can be found on the restructuring page or by calling the customer relations.
Showing posts with label bankruptcy. Show all posts
Showing posts with label bankruptcy. Show all posts
Thursday, February 18, 2010
Tuesday, June 2, 2009
GM wants to communicate with you and me about its bankruptcy and its reinvention.
The automaker posted the ad below on YouTube on Monday, the day it also filed for bankruptcy protection. Pay attention to the opening: a narrator saying, "Let's be completely honest. No company wants to go through this."
The ad comes along with a new website, and a GM Fastlane Blogs entry from President and CEO Fritz Henderson.
Here's how Henderson closed his entry on Monday:
There's even a link to a Spanish translation, in the spirit of better communication.
Advertising Age reporters Rupal Parekh and Jean Halliday wrote about the advertising effort on Monday. Their article said GM plans to directly contact GM vehicle owners throughout June and that Henderson and other GM execs will host a series of live Web chats.
Transparency or a transparent attempt to manage image? Or both?
The automaker posted the ad below on YouTube on Monday, the day it also filed for bankruptcy protection. Pay attention to the opening: a narrator saying, "Let's be completely honest. No company wants to go through this."
The ad comes along with a new website, and a GM Fastlane Blogs entry from President and CEO Fritz Henderson.
Here's how Henderson closed his entry on Monday:
Today marks the beginning of what will be a New GM dedicated to building on only the very best of our recent progress in fuel efficiency, world-class quality, green technology development and outstanding design. Above all, the New GM will be rededicated to our customers. We don’t do that by working in a bubble. We do it by engaging with you, our customers and critics, our partners and champions, who are interested in our progress. I hope you’ll join us as we begin a new and better era for General Motors.
There's even a link to a Spanish translation, in the spirit of better communication.
Advertising Age reporters Rupal Parekh and Jean Halliday wrote about the advertising effort on Monday. Their article said GM plans to directly contact GM vehicle owners throughout June and that Henderson and other GM execs will host a series of live Web chats.
Transparency or a transparent attempt to manage image? Or both?
Friday, May 29, 2009
Stock Building Supply bankruptcy
More information is coming out about the bankrupty plan for Stock Building Supply.
CoStar Realty Information is reporting the company -- one of the largest suppliers of building products to professionals and do-it-yourselfers in the United States -- wants to cancel leases of 142 locations in its bankruptcy process. The chain operates 209 stores in 27 states.
The manager of the Amarillo Stock Building Supply at 6226 Canyon Drive said last week that it would remain open, a statement later confirmed by a spokeswoman for the chain.
The Gores Group recently acquired the chain from Wolesley, with its deal hinging on completion of a voluntary pre-packaged Chapter 11 process.
It's no secret that home improvement and building materials chains have been hard hit by the housing market downturn. CoStar gives a list of store leases that Stock Building Supply wants to cancel includes 19 in California, 17 in Florida and 17 in North Carolina.
Texas could see lease cancellations of 10 stores in Austin, Conroe, the Dallas-Fort Worth Metroplex, Houston, Mission, Round Rock and San Antonio, according to CoStar's list.
CoStar Realty Information is reporting the company -- one of the largest suppliers of building products to professionals and do-it-yourselfers in the United States -- wants to cancel leases of 142 locations in its bankruptcy process. The chain operates 209 stores in 27 states.
The manager of the Amarillo Stock Building Supply at 6226 Canyon Drive said last week that it would remain open, a statement later confirmed by a spokeswoman for the chain.
The Gores Group recently acquired the chain from Wolesley, with its deal hinging on completion of a voluntary pre-packaged Chapter 11 process.
It's no secret that home improvement and building materials chains have been hard hit by the housing market downturn. CoStar gives a list of store leases that Stock Building Supply wants to cancel includes 19 in California, 17 in Florida and 17 in North Carolina.
Texas could see lease cancellations of 10 stores in Austin, Conroe, the Dallas-Fort Worth Metroplex, Houston, Mission, Round Rock and San Antonio, according to CoStar's list.
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