September 26, 2007
Movie Gallery, the country's second largest video rental chain, says it plans to close about 520 stores to save money and cut costs.
About 25 of those stores will be in Virginia. The move comes as the company struggles to pay debt. Movie Gallery officials say 12% of the company's stores will be closed.
Movie Gallery says it's closing underperforming and unprofitable stores that operate under the Movie Gallery and Hollywood Video names. A company spokeswoman says liquidation sales will begin Thursday at Movie Gallery and Hollywood Video stores nationwide.
The Movie Gallery in Charlottesville will remain open.
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