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Movie Gallery Closing 400 More Stores

Video rental company Movie Gallery today announced plans to close 400 more stores as part of its reorganization to exit bankruptcy.'

Alabama-based Movie Gallery is the nation's number two video rental chain -- behind Dallas-based Blockbuster.

Movie Gallery is closing underperforming and unprofitable stores that operate under the Movie Gallery and Hollywood Video names.

The company in September announced the closure of 520 stores.

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