Latest News 2010 August Movie Gallery Files Liquidation Plan

Movie Gallery Files Liquidation Plan

The operator of the Hollywood Video rental chain, Movie Gallery, has filed its bankruptcy liquidation plan that will liquidate its operations and end in the shutting down of the business. The plan was filed five months after Movie Gallery filed for Chapter 11 protection after sales fell. The plan states that unsecured creditors will obtain "some recovery" on their claims and many secured creditors "will not be paid in full."             

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