Movie gallery to close down
At one time, video stores were booming. Mom and pop video rental stores stood in every neighbourhood. Then came the big guys like Blockbuster. Now, thanks to Amazon and Netflix, the retail video rental business is dying.
The number 2 video rental company in the US, Movie Gallery, is closing down. The company, which operates 4,430 stores in the United States and Canada, is filing for bankruptcy. To raise some money, it also plans to auction off the leases at 508 stores.
It’s a sad story when all a retail company has in the end, is its real estate value. Video rental companies have been slow to innovate when faced with online competitors. We have just begun to see movie downloads take off as a business — what will the brick and mortar retailers do next?
Filed under: Video
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Maybe if movie gallery, treated there managers with respect, and they would have gotten noticed for all the extra hours they worked for free….instead what did they do, they took the bonuses anyway, that helped the managers, to incourage there staff to work for them…but as time went on you could not motative the staff to work for 8 dollars an hour. And if your boss doesn’t care, why the hell should you…..there was a few of us that seen this coming as video update did the same thing to there employee’s.
So in the long run it is Movie Gallery own fault for there failures. treat your staff right and they will work for you.