People "familiar with the matter" told the WSJ that the chain considered "reorganizing around smaller core stores" before filing for bankruptcy, but the idea "never got any traction." It also appears that the 184 or so Canadian outlets will remain unaffected, but we've heard nothing official yet. Reportedly, the US stores will begin liquidation "over the next couple of months" until inventories run dry, mirroring the murmurs we heard this past weekend.
While the reality that GameCrazy is suffering this fate certainly appears likely (our tips box seems to corroborate the information), we should note that Movie Gallery Inc. has yet to issue any formal statement regarding the allegations. Our calls to GameCrazy corporate have similarly gone unanswered. If you are a GameCrazy, Hollywood Video, or Movie Gallery employee with any form of official documentation on this subject, we'd love to hear from you.