(Reuters) - Movie Gallery, which has seen same-store rental revenue
plunge for the past year as online DVD rental erodes its market
share, said it is in talks with its lenders on a possible
waiver, amendment, forbearance or similar agreement.
The company said it will accelerate store closures and
consolidations and may put itself up for sale. It has fully
drawn the remaining availability of its credit revolver and has
about $50 million of cash on hand.
Read more at Reuters.com Bonds News
plunge for the past year as online DVD rental erodes its market
share, said it is in talks with its lenders on a possible
waiver, amendment, forbearance or similar agreement.
The company said it will accelerate store closures and
consolidations and may put itself up for sale. It has fully
drawn the remaining availability of its credit revolver and has
about $50 million of cash on hand.
Read more at Reuters.com Bonds News
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