Hundreds of Movie Gallery video and game rental stores across the country are targeted for closure and the Morenci location won’t escape the ax.
The Oregon-based company filed Feb. 3 for Chapter 11 bankruptcy with plans to close 760 stores nationwide. This action follows previous cuts that eliminated several hundred “underperforming” stores.
According to a press release, the company stated that its “goal is to emerge from the restructuring process with a new and sustainable business model centered on a smaller base of profitable stores.”
Approximately 1,100 Movie Gallery stores are expected to remain open following the restructuring process.
Closing signs are posted in the windows of the Morenci branch, but at this time employees don’t know when the store will be locked for good.
A notice about restructuring on the company’s website indicates that when a store-wide sale is complete at a location, the store will be removed from the list of operating locations.
Until then, the Morenci store remains open for rentals and tanning.