Author Topic: Game Crazy Store Liquidations (All Stores Closing including Hollywood Video)  (Read 4606 times)

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Offline DarkStar

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As an employee at the corporate offices for Movie Gallery (Hollywood Video and Game Crazy are our subsidiaries), we were notified yesterday that the decision was made to liquidate the company.

Many of you already know that we've been closing a lot stores in the last couple of months, however the original plan was to keep about a total of 600 stores operational (60 Game Crazy, 100 Hollywood Video, and the rest Movie Gallery).

Starting in about two weeks, every store under Movie Gallery will start the liquidation process. I recommend that if you have any store credit or gift cards, go get them used up. Cash credit can be refunded (like preorder deposits that you gave them $5 for). Once liquidation begins, it is unclear if customers will have access to their store credit, however gift cards should still function. Liquidation is expected to run for 10 weeks.

More information should be available Monday, May 3rd on our websites for Game Crazy, Hollywood Video, and Movie Gallery.

Unfortunately I cannot go into the details of why this ended up happening, however I will say that it had very little to do with competition from companies like Netflix, Redbox, Amazon, or even GameStop, and really was the result of our own poor decisions.
--Chris ^_^

Offline reppy

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Will they be doing the liquidation or will other companies buy up their stock and re-sell it like happened with other companies in recent memory? 

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Offline superjaz

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Thats sad I always liked going to hollywood video growing up
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Offline NARUNIK

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It was so sad when I went to my GameCrazy/ Hollywood was closed down. That was the best game store ever. GameStop kept on ripping us off.

Hollywood had everything also.

Offline DarkStar

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Will they be doing the liquidation or will other companies buy up their stock and re-sell it like happened with other companies in recent memory? 
Typically, the process is that a liquidation company places a bid for the product "as it stands" in stores. Then when they are approved, they move their own people in to perform the discounting and sales and they receive a percentage of revenue.

I'm sure if a company came in and made a better bulk offer than what the liquidation companies were offering we would accept it.

We'll see!
--Chris ^_^

Offline cloud-9

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@nick: is our local game crazy closed?

Offline cloud-9

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i have a question: i have a DSI warranty that has at least another year and a half on it which was purchased at a game crazy. will I still be able to send my DSI in for repair with a warranty from a store that ''went under?"

Offline KHking

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Has the process begun yet? I am interested in a PSP.

Save Caprica!!

Offline cloud-9

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ever game crazy i have ever seen is gone and all the phone numbers are disconnected  :'(

Offline KHking

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Oh....

Save Caprica!!

Offline DarkStar

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i have a question: i have a DSI warranty that has at least another year and a half on it which was purchased at a game crazy. will I still be able to send my DSI in for repair with a warranty from a store that ''went under?"
As long as a store exists that you can send your DSi to, the warranty is required to be honored as part of the Chapter 11 filing. However, since this is becoming a Chapter 7 filing, I would expect that the service contract you purchased will become null and void as no stores will exist after liquidation.

I've been waiting to hear the final official word and have been checking the website on a regular basis, but so far, no news... :(
--Chris ^_^

Offline DarkStar

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Has the process begun yet? I am interested in a PSP.
The "all-company" liquidation hasn't started yet, however individual stores that were part of the Chapter 11 closing are currently in the process. I believe the Tanasbourne store closed last weekend, but I would check them out if they're still open.

Game Crazy stores still open can be found on the Store Locator on their website.
--Chris ^_^

Offline Agent47

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If you have a warranty on something, through GameCrazy, there's a possibility that even after the complete Hollywood Video/GameCrazy franchise is gone, your warranty may still be good, through whichever insurance company HV/GC uses. This was the case when Circuit City went under.
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Offline DarkStar

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If you have a warranty on something, through GameCrazy, there's a possibility that even after the complete Hollywood Video/GameCrazy franchise is gone, your warranty may still be good, through whichever insurance company HV/GC uses. This was the case when Circuit City went under.
Unfortunately we didn't sell "insurance" to customers. We provided a "service contract" that promised to repair or replace the customers console if it broke after the manufacturers warranty. I don't have a copy of the service contract and can't remember what the fine print states, but since there will no longer be a company the terms of the service contract will become void. :(
--Chris ^_^

Offline DarkStar

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As much as I hate posting this, yep the Game Crazy liquidation has officially started.

GameCrazy store liquidation starts today, everything 20% off

Please note that these are being ran by an outside liquidation company and are no longer under control of the corporate offices. If I had to guess, the best deals will be found in 6-8 weeks (the liquidations are scheduled to run for 10 weeks).

Yes, for those that like movies, this also includes all Hollywood Video and Movie Gallery stores. ;D
--Chris ^_^

Offline NARUNIK

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@nick: is our local game crazy closed?

Yup. ( Sorry I havent been on here lately.)

Offline Lady Locust

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;-; Hollywood Video is my childhood.
I remember I would rent The Mask everytime I visited...and when GameCrazy opened for the first time near me, I was the happiest child in the world D:
I shall keep these memories alive by buying everything from both stores. 8D;
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Offline KHking

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My locale gc is doing quite well when I went in. I got the last psp!

Save Caprica!!