Home About Archives RSS Feed

Pittsfield Movie Gallery Closing

Staff Reports

PITTSFIELD, Mass. — The city's losing one of its video rental stores with the closing of the Movie Gallery on Dalton Avenue.

Movie Gallery Inc. filed for reorganization of its American holdings under Chapter 11 bankruptcy at the beginning of February and announced the closure of nearly a third of its Movie Gallery, Hollywood Video and Game Crazy stores across the United States.

According the restructuring announcement on its Web Page, Movie Gallery said the liquidation and closures of 760 stores are "because they are not profitable and because funds from liquidating them can help us moving forward."

The Dalton Avenue store is selling off its inventory and should close within four to six weeks.

The closings do not affect the Hollywood Video on Merrill Road or the Movie Gallery in North Adams in the L-shaped mall. Also closing is the Movie Gallery at 68 Mohawk Trail, one of two Greenfield, and two stores in the Albany, N.Y., area.

Movie Gallery is the second-largest video and game renter after Blockbuster but it's been hammered by changes in rental services, particularly by upstarts like NetFlix and Redbox. This is the company's second bankruptcy in the past three years. The first shuttered at least 400 locations including the Movie Gallery in the Stop & Shop Plaza in North Adams.

The company, which once had more than 3,000 stores, expects to reduce to a stable "core" of 900, which means more closures are likely. The chain had $129 million in losses in the fourth quarter of 2009.

Tags: closing, bankruptcy      
News Headlines
Cheshire Looks at Joining Northern Berkshire School Union
Pittsfield Medical Associates Awarded Medical Leadership Role at Berkshire Place
Berkshire County Arc Hires Director of Brain Injury Services
Destination Williamstown Names New Director
Cultural Pittsfield This Week: Oct. 20-26
Adams Investigating Operations at Former Curtis Paper
Williamstown Finance Endorses Police Station, School Regionalization
Pittsfield Establishes Community Preservation Act Budget
Work Group Discusses Stigma Associated With Heroin Use
BHS Gifts North Adams Airport Building

 


Bill Schmick separates the bull from the bears in his weekly columns on investing and market wrap-ups.



Categories:
advertising (10)
agriculture (1)
arts (7)
automotive (5)
awards (16)
banking (41)
Beacon (1)
broadband (1)
business (52)
chamber (25)
closing (5)
development (23)
dining (5)
domestic animals (2)
energy (6)
entertainment (2)
federal (4)
finances (5)
food (5)
fundraiser (3)
green (2)
grocery (5)
hospitality/hotel (5)
housing (0)
insurance (3)
investment (6)
jobs (35)
labor (17)
laws (4)
Legislature (3)
manufacturing (9)
media (8)
medical (4)
networking (33)
new (22)
pricing (1)
projects (2)
promotion (6)
publishing (13)
radio (2)
real estate (8)
retail (29)
technology (13)
training (5)
transportation (1)
volunteer (1)
website (2)
wholesale (7)
workshops (6)
Archives:
Tags:
Breakfast State Talkberkshires Merger Berkshire Enterprises Walmart Crane & Co. Qualprint Gas Prices Expansion Small Business Social Media Store Opening Auction Flood Sabic Baldwin Jobs Excelsior Bj's Berkshire Creative Great Barrington Sales Tax Berkshire Chamber Of Commerce Berkshire Living Statistics Adams Currency Statistics Williamstown Wmeco Pittsfield Unemployment North Adams Unemployment
Popular Entries:
Excelsior Brings Greeting Card Co. To North Adams
Berkshire Jobless Rates Drop
Bay State Continues to Add Jobs
Williamstown Chamber Seeks Input on Future Role
Aladco Installs New 'Green' Washing Machine
Storey Publishing to Host Next Creative Challenge
White Hart Inn For Sale for $5M
New Dog Training Center Open in North Adams
Carbone Dealership Empties Lot
Covanta's Pittsfield Facility Gets High Marks from OSHA
Recent Entries:
Biz Briefs: Mr. Tire, Tax Holiday, Business Directory
Berkshire Eagle Parent Mulling Newspaper Sales
Digitial First Puts Vermont News Buildings on the Market
Berkshire Chamber, Neal Hosting Facebook for Business Workshop
Winstanley Wins Big at Annual ADDY Awards
Eggs & Issues Event Focuses on Rail Cars, Development
State Unemployement Rate Drops Slightly
New Biotech Firm Setting Up in Pittsfield
Crane Museum Opens Retail Store
License Commission Approves River Street Package Move