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Jackson Movie Gallery to remain open despite chain's bankruptcy filing
Despite Movie Gallery's announcement it will close 760 of its stores, the Jackson location appears to be safe.
On Wednesday, the Wilsonville, Ore.-based chain filed Chapter 11 bankruptcy, allowing the company to restructure its debt while continuing to operate its business. The move affects its Movie Gallery, Hollywood Video and Game Crazy stores.
"We are closing these because they are not profitable and because funds from liquidating them can help us moving forward," a statement posted on Movie Gallery's website said.
The company has not made public the list of store closures, but an employee of the Jackson location said the store will remain open.
After the store closures, Movie Gallery will continue to operate 1,111 Movie Gallery, 545 Hollywood Video and 250 Game Crazy locations. The company, which is facing increasing competition from mail delivery services such as Netflix, said it anticipates closing additional locations during the bankruptcy process, its second since 2007.
The news comes after Movie Gallery closed Hollywood Video in Cape Girardeau on Oct. 28.
2009 E. Jackson Blvd., Jackson, MO
127 Siemers Drive, Cape Girardeau, MO