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BobYoMeowMeow wrote on 2010-05-03 00:22
[Image: http://www.blogcdn.com/www.joystiq.com/media/2010/05/gamecrazyclosures580pxheaderimg.jpg]
After a handful of reports from several current GameCrazy employees and about a dozen calls to GameCrazy outlets across the country, we believe that the retailer will in fact be shuttering its remaining 250 or so locations in the coming weeks. Speaking with one such GC employee in central Pennsylvania, we were told, "Movie Gallery as a whole [GameCrazy's parent company] yesterday filed for Chapter 7, which indicates that the whole company is going through liquidation. I was in on the conference call yesterday ... it looks like this week and the week after they're going to go through finding a liquidation company to buy [the remaining products]. It's going to be business as usual for the next two weeks, we'll see our releases for the next two weeks, but we'll likely be closed by the end of June."
The alleged bankruptcy filing has yet to appear on Movie Gallery's stock page or in the SEC database. We've attempted to gain official word from corporate, but the company refuses to acknowledge whether the chain is closing. Whether there was any internal documentation, one employee told us, "Unfortunately, there aren't any new memos on the intranet related to it... the last one was on 4-21 ("Important Closing Store Update"), and then there were a few on 4-20 ("Select In-Store Programs Cease" and "Letter from Roger Dunlap - Closing Store Announcement") and one on 4-19 ("Special Order Games Department Closing") The newest stuff was on the conference call yesterday, which I wasn't apart of."
That said, our past experience with GameCrazy has shown that when several employees tell identical stories about store closures across multiple states, they're not likely colluding on an elaborate ruse. Additionally, we were told by an employee that "after the 18th [of May], we're done with pre-orders." He also encouraged customers with pre-orders to come in and pick up any deposits they've placed on games being released any time beyond the immediate future. If you're a current GameCrazy employee with information you'd like to share, we'd love to hear from you.
Rumor: GameCrazy closing all remaining stores -- Joystiq
Apparently this is the reason why they're closing
[Image: http://cache.gawkerassets.com/assets/images/9/2010/05/500x_gamestopnewused.jpg]
and Gamestops are everywhere
like within 5 miles range out each location
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Hiccup wrote on 2010-05-03 00:25
Wth.... why is it higher pre-owned?
And I have never seen a GameCrazy in my life!
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RicochetOrange wrote on 2010-05-03 00:28
No, it's closing because everyone uses the following...
[Image: http://melsutton.files.wordpress.com/2009/03/netflix-logo.jpg]
Quote from bradstrt;26421:
Wth.... why is it higher pre-owned?
And I have never seen a GameCrazy in my life!
I know where two are and I have bought stuff at both. (Brawl at one and FFIV at the other)
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Drifter wrote on 2010-05-03 00:30
The gamecrazy in my town closed months ago...
also the Hollywood Video that accompanied it closed also
the only upside to the whole thing is that they had a massive closing sale in which I netted over 22 games ._.;
oh and the reason it's higher pre owned, is because currently gamestops are having their game days sale, in which any excess copies of games that came out during a certain period get crazy discounts
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BobYoMeowMeow wrote on 2010-05-03 00:32
Gamecrazy sells movies?
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Drifter wrote on 2010-05-03 00:36
Quote from BobYoMeowMeow;26429:
Gamecrazy sells movies?
Usually gamecrazys accompany a Hollywood Video store
I've never heard of a gamecrazy standalone store though ._.;
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Chockeh wrote on 2010-05-03 00:41
Quote from Drifter;26435:
Usually gamecrazys accompany a Hollywood Video store
I've never heard of a gamecrazy standalone store though ._.;
I guess gamestop over-shadows game crazy. I think I've seen one in Toronto, though I'm not exactly sure. Just has a green ish logo and had the name Game in it.
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RicochetOrange wrote on 2010-05-03 00:43
Quote from BobYoMeowMeow;26429:
Gamecrazy sells movies?
I always see them built into Hollywood video. I've never seen a solo Gamecrazy though.
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Justified wrote on 2010-05-03 00:47
Quote from Drifter;26435:
Usually gamecrazys accompany a Hollywood Video store
I've never heard of a gamecrazy standalone store though ._.;
They can't expect to compete with real stores if they can't have their own establishments.
In fact I've only ever seen one, and I actually thought it was a part of Hollywood Video and they were just using that as a theme to distinguish the movies and games from each other. Never knew it was actually its own thing.
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Drifter wrote on 2010-05-03 00:47
It's sad though, because usually the people there are nicer and the sales are better than most of gamestops...
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Flameage wrote on 2010-05-03 01:25
Quote from Drifter;26426:
The gamecrazy in my town closed months ago...
also the Hollywood Video that accompanied it closed also
the only upside to the whole thing is that they had a massive closing sale in which I netted over 22 games ._.;
oh and the reason it's higher pre owned, is because currently gamestops are having their game days sale, in which any excess copies of games that came out during a certain period get crazy discounts
Yeah, the gamecrazy in my town also closed and was accompanied by a Hollywood Video. Its becoming a laundromat.......
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Taycat wrote on 2010-05-03 13:31
Next thing we know, Gamestop will close because Gamefly is here.
But gamefly has a HIGH demand on some games.
Took me 2 weeks to get KHDays.....
Also, may I point out that Gamestop is actually telling the truth?
They even told me th December date for BBS is a placeholder........o-o
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BobYoMeowMeow wrote on 2010-05-03 22:35
Gamefly isnt that good for customers
it takes WEEKS for them to send or receive your games
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BobYoMeowMeow wrote on 2010-05-05 13:44
Rumor confirmed
Bye bye Gamecrazy
[Image: http://www.blogcdn.com/www.joystiq.com/media/2010/05/moviegalleryheaderimg580px.jpg]
Movie Gallery Inc., owner of the GameCrazy, Hollywood Video, and Movie Gallery franchises, is officially closing its remaining 2,415 outlets across the US. An internal memorandum obtained by Joystiq confirms reports that the company will be closing its doors and liquidating its remaining stock over the coming weeks. "A decision has been reached by the board of directors to liquidate the entire assets of the organization," the document reads.
The piece also notes that the store closing sale will "likely continue for up to 60 days" and that employees who stick it out to the end will receive "store associate incentive plans" as a reward. Additionally, it assures said employees that "The company expects to continue to pay associates and provide current benefits and insurance programs during your active employment until you are released from the store or the store closing sale ends."
It would appear that discount levels and liquidation plans have yet to be finalized at the company. "We are also in the process of evaluating liquidation vendors who will oversee the store closure and sale process in conjunction with our company ... the consultants will advise us on appropriate discount levels, advertising, in-store signing and in-store merchandising in order to facilitate a smooth process." And though it's not explicitly spelled out, the piece states that "most" normal operating procedures and company policies will persist through the closings.
We wish the best of luck to the approximately 19,000 employees affected by the closure
GameCrazy internal document confirms liquidation of remaining stores