Hollywood Video Doomed

9/21/2007 Update:

More on the “Doomed” Hollywood Video story from a Hoboken411 reader:

“I’m not surprised to hear the Hollywood Video at the Shipyard may be doomed. In fact, the whole company may be headed that way. Hollywood Video is owned by Movie Gallery (NASDAQ: MOVI) which is in financial trouble. Yesterday S&P cut the company’s credit rating to “D” after they failed to make an interest payment last week.

Movie Gallery has been struggling with debt since it paid $1.01 billion dollars for Hollywood Video in 2005. Back then the stock traded as high as 33 bucks a share. Now it trades around fifty cents, with a market value of only $16 million and debt of over $1 billion. Ouch!!”

A reader wrote in saying that one of the clerks working there indicated that this Sunday is their last day. I guess they finally lost to Netflix and Blockbuster.

The place was a dump anyway. I always became itchy when inside.

Maybe now’s the time for a nice Banana Republic there?

Video Rental – Doomed

Description – Video Rental
Services – Video tape and DVD rental
Website – www.hollywoodvideo.com
Address – 1203 Hudson St, Hoboken, New Jersey ( NJ ) 07030-5581
Telephone – (201) 533-0920

Hollywood video.JPG

Leave a Reply

12 Comments on "Hollywood Video Doomed"

ron mexico
Member
ron mexico

Bought a bunch of movies for $6-7 each from that thing.
Decent selection, no quality problems with the used DVDs to speak of.

capt. jack
Member
capt. jack

has anyone seen / used the DVD rental machine in A&P (at the front of the store beyond the registers)? i think it’s advertised that you can rent a DVD overnight for only $1…

thebinatwork2
Member

Its amazing to me that any video stores are still in business- its such an outmoded business plan. There is no reason why everything isn’t on demand (across all providers) already except for dinosaur businesses like Blockbuster. There will be no video stores of any kind in 10 years. This one was better than Talk of the Town though because they actually had foreign movies. Talk of the Town has a pathetic “foreign/special interest” case with about 15 foreign movies from the last 25 years. Just a joke.

homeworld
Member

Not to be cliche, but let’s just hope it’s not a nail salon.

hbkn_resident
Member
hbkn_resident

GAP?

wpDiscuz