Game Crazy Parent Company Struggling
Posted by Paul Hamilton Categories: Corporate News,
Movie Gallery, the parent company for brick-and-mortar game retailer/renter (and one of the few remaining chain competitors to GameStop/EB) received an extension on its $900 million restructuring loan as it continues to struggle in an increasingly difficult market. Movie Gallery also owns Hollywood Video and and eponymous stores. CEO Joe Malugen said, “Despite the challenging market conditions for Movie Gallery and the entire rental industry, we are continuing to work with our lenders and our outside advisors to help address the Company’s current financial situation. We plan to continue to operate the Company without interruption as we work through this challenging period.”
So clearly the word of the day is “challenging” but the company seems to be angling toward an acquisition or merger to overcome those challenges. So far they have had to close stores and reduce staff to try and meet financial obligations, and this new extension has given them until August 27th before the loan is considered defaulted.
Read More 
| CNN Money via Joystiq
Gallery: Game Crazy Parent Company Struggling
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Game Crazy POS Shows Black Xbox 360 Date, Price
Posted by Christopher Sasaki Categories: Hardware, Rumors, Xbox 360,
A post on the Cheap Ass Gamer forums indicates that a new Xbox 360 SKU has been loaded into the system, appearing as
GM-XBOX 360 (black/ 120GB) $479.99 NEW $439.99 USED
. The release date is currently listed as 5/1/2007. Some of the posters in the forum were able to confirm this, and Kotaku was able to get independent confirmation from various Game Crazy stores as well. Now, this could be just a phantom in the system, an update created based on speculation at Game Crazy, so one can’t really describe this as a confirmation that there is a black Xbox 360 coming out, but this, along with the previously released alleged box art would seem to be tipping the scales further and further in favor of its existence.
Read More | Cheap Ass Gamer via Kotaku
Gallery: Game Crazy POS Shows Black Xbox 360 Date, Price
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