Wal-Mart joins landlords objecting to Movie Gallery closings
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Bankruptcy court sets hearing for Nov. 6
By Cindy Spielvogel -- Video Business, 10/30/2007
OCT. 30 | Wal-Mart has added its name to the list of landlords objecting to Movie Gallery’s plans to put some of its leases up for auction and sell off inventory to the public from the stores it is closing.
Movie Gallery, which filed for bankruptcy Oct. 16, was given preliminary approval for its store disposal plans by the U.S. Bankruptcy Court in Richmond, Va., pending objections.
A series of landlord groups have since filed court papers protesting various elements of Movie Gallery’s store closing plans.
Like other landlords, Wal-Mart, which filed papers Oct. 27, objects to the auction process and elements of Movie Gallery’s “going out of business” sale procedures.
Wal-Mart leases space to the video chain in several locations, with most of the video outlets located inside Wal-Mart stores.
Other landlords that have filed objections include the supermarket chains Publix and Safeway.
A hearing on the landlords’ issues and other matters related to the Movie Gallery bankruptcy has been set for Nov. 6.
