Movie Gallery Could Close 1,800 Stores

Movie Gallery might file bankruptcy this week and could end up as one of the first big chains to close massive amount of stores. According to the Wall Street Journal, the Hollywood Video parent could close two thirds of its units, or 1,800 locations.This move comes as Blockbuster is in plans to close 1,000 stores of its own and reported poor holiday sales. Obviously, the physical movie-rental business is not the best enterprise to be in right now The two of these retailers are candidates to put a lot of space on the market in the coming year. But one would hope landlords are prepared to deal with this issue and saw these closures coming.Are there enough concepts out there expanding to soak up these relatively small spaces, many in good locations? Or will we see these stores stay vacant for a long time?