Number Two Video Rental Chain, Movie Gallery, Bankrupt

The rapidly changing home entertainment industry has put the number two video rental chain into bankruptcy. Movie Gallery has succumbed to the Blockbuster/Netflix war, web video and as you know the list continues. Only two years ago, Movie Gallery's stock traded at $33/share. Tuesday the rental chain filed after their stock closed a sad $0.22/share. What a long fall! It will be interesting to see who worms their way out of the woodwork to oust Netflix in the future.

Via Crave

Read More in: General News

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