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GameCrazy store liquidation starts today, everything 20% off
Moving right according to schedule, GameCrazy today officially began liquidating outlets across the US, with remaining inventory in stores reduced in price by 20 percent. An internal memo we received details the liquidation proceedings, confirmed by multiple calls to remaining GameCrazy outlets across the East Coast. "Beginning May 21, your store will introduce a special sales strategy featuring 20% OFF sale on all software and hardware items," reads this particular store's notification. Apparently "The Great American Group" -- an auction, liquidation, and appraisal contractor -- will be handling oversight of the liquidation, advertising as much on its website (as well as being mentioned repeatedly in the notice we received). It also appears that the group has yet to finalize an incentive plan for remaining employees, though the document assures that they'll hear something "next week." A list of remaining Movie Gallery, Inc. outlets, including many GameCrazys, can be found here (warning: PDF link).
GameCrazy internal document confirms liquidation of remaining stores
click to enlarge Movie Gallery Inc., owner of the GameCrazy, Hollywood Video, and Movie Gallery franchises, is officially closing its remaining 2,415 outlets across the US. An internal memorandum obtained by Joystiq confirms reports that the company will be closing its doors and liquidating its remaining stock over the coming weeks. "A decision has been reached by the board of directors to liquidate the entire assets of the organization," the document reads. The piece also notes that the store closing sale will "likely continue for up to 60 days" and that employees who stick it out to the end will receive "store associate incentive plans" as a reward. Additionally, it assures said employees that "The company expects to continue to pay associates and provide current benefits and insurance programs during your active employment until you are released from the store or the store closing sale ends." It would appear that discount levels and liquidation plans have yet to be finalized at the company. "We are also in the process of evaluating liquidation vendors who will oversee the store closure and sale process in conjunction with our company ... the consultants will advise us on appropriate discount levels, advertising, in-store signing and in-store merchandising in order to facilitate a smooth process." And though it's not explicitly spelled out, the piece states that "most" normal operating procedures and company policies will persist through the closings. We wish the best of luck to the approximately 19,000 employees affected by the closure.
