Hollywood Video Doomed
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!!”
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