Movie Gallery

Movie Gallery was a American and Canadian chain of video and video game rental stores. At its peak, it was the second-largest video rental store in the United States. However, after the decline of video rental stores in the 2000s, Movie Gallery filed for bankruptcy and closed all locations throughout 2010. 
==History==
In 1985 Joe Malugen and Harrison Parrish founded Movie Gallery. The first location opened in Dothan, Alabama. After this first location, a few others were opened throughout Alabama, and the company quickly began to franchise stores. By June of 1987, there were 50 locations throughout Alabama and Flordia. Throughout the end of the 1980s, more and more locations were opened throughout the southern United States. 
In August of 1994, Movie Gallery went public on the New York Stock Exchange, which is the largest stock exchange in the United States. This helped the company grow even further with more company and franchise stores. 
Throughout the 1990s, Movie Gallery acquired many smaller movie rental chains throughout the United States. Making the Movie Gallery name quickly grow to over 800 locations by the end of 1996. 
In 1999, Movie Gallery announced that they would be opening over 100 new locations throughout America, by 2000, Movie Gallery reached its goal and opened well over 100 new stores. 
In 2001, Movie Gallery entered the Canadian market with the acquisition of Video Update, a former competitor of Movie Gallery. By 2002, there were over 1600 locations, 100 of those being Canadian stores. 
In 2005, Movie Gallery merged with Hollywood Video. After the merger, there were over 4700 locations across the United States and Canada. In the same year, Movie Gallery purchased VHQ Entertainment, which let the chain expand into the Western Canadian market. 
===Decline of Movie Gallery/Hollywood Video===
By the late 2000s, the video rental business began to drasticlly decline. One of the major reasons was the streaming service Netflix becoming more and more popular. In September 2007, Movie Gallery closed 520 locations after experiencing a loss of profits. 
In October 2007, Movie Gallery filed for chapter 11 bankruptcy protection after the chain continued to lose sales. By November 2007, Movie Gallery was removed from the New York Stock Exchange after the chain went under a dollar a share. 
In 2008 and 2009, 100s more Movie Gallery and Hollywood Video locations were closed throughout the United States and Canada. By the end of 2009, Movie Gallery couldn't get out of bankruptcy protection, and the end of the company became apparent. 
In February 2010, Movie Gallery filed for chapter 11 bankruptcy a second time, this was turned into chapter 7 bankruptcy in May of the same year, meaning that all locations would be closed. 
All American stores closed by July 31st, 2010, and all Canadian stores closed by August 8th, marking the end of Movie Gallery and Hollywood Video. 
==See also==
* Blockbuster Video
* Family Video
* West Coast Video
* Redbox
* Hollywood Video
Category:Video Rental Stores
Category:Video game stores
Category:Electronic Stores
Category:Retailers that filed for bankruptcy
Category:Retailers
Category:Companies
Category:Companies based in Alabama
Category:Franchises
Category:Brands
Category:Defunct
Category:1985 Establishments
Category:North America
Category:Canada
Category:USA