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Movie Gallery Canada Closing All 181 Stores

Movie Gallery Canada, Inc. announced that it will be liquidating inventory and other assets at all of its Movie Gallery and VHQ stores over the next six to eight weeks.

According to the statement, all of its stores are scheduled to close on or before July 31, 2010, with the exact timing of individual store closures to be determined on a store-by-store basis.

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Unedited press release follows:

Movie Gallery Canada is Now Liquidating Merchandise in All of Its 181 Stores in Canada

TORONTO–Movie Gallery Canada, Inc. (the “Company”) has operated 181 stores under the “Movie Gallery” and “VHQ” banners in all provinces in Canada, with the exception of Quebec. The Company today announces that it will be liquidating inventory and other assets at all of its Movie Gallery and VHQ stores over the next six to eight weeks (the “Sale”). All of its stores are scheduled to close on or before July 31, 2010, with the exact timing of individual store closures to be determined on a store-by-store basis. A list of the closing stores is attached below.

Due to growing challenges in their markets, and other business concerns, the Company elected to file a Notice of Intention to Make a Proposal (“NOI”) pursuant to the Bankruptcy and Insolvency Act (“BIA”) on May 7, 2010. Under the NOI, A. Farber & Partners Inc. (“Farber”), a member of Farber Financial Group, was appointed as Trustee in the Proposal, and has been assisting the Company in this process.

The Company is not bankrupt and intends to file a proposal to its creditors, including landlords and employees, in the near future. The Company’s share of the net proceeds of the Sale will be used to fund this proposal to its creditors. In the meantime, the effect of the NOI and the Order of Ontario Superior Court of Justice dated June 11, 2010 is to provide an overriding stay of proceedings affecting all creditors until July 21, 2010, or thereafter if extended by the Court. The Company continues to occupy its leased premises, and to employ the majority of its valued 1,200 employees.

A joint venture group consisting of: Schottenstein Bernstein Corporation, Tiger Capital Group, and Hudson Capital Partners (the “Agent”) was selected by the Company to conduct the liquidation sale of the Company’s assets, comprising inventory and furniture, fixtures and equipment. This arrangement was approved by the Superior Court of Justice by Order of the Honourable Mr. Justice Campbell on June 11, 2010. The sale in 131 of the 181 store locations was commenced by the Agent on June 12, 2010 pursuant to that Order, affecting inventory valued at approximately $33,000,000.

On June 11th, the Company received offers from parties to acquire some of its remaining 50 stores, including inventory and assets therein. All such offers have been declined, and the Company has now decided to liquidate all 181 of its Canadian stores through its agreement with the Agent. The remaining 50 stores are to be added to the liquidation this week with an additional $15,000,000 of inventory and other assets for sale at significant discounts, including DVD and Blu Ray movies, video games and store fixtures.

“Consumer response to the initial liquidation sale has been excellent,” said David Peress, President of Hudson Capital Partners. “Customers are taking advantage of tremendous bargains on a great selection of movies, videos and games available for purchase at all Movie Gallery and VHQ stores throughout Canada. New product is arriving daily from Movie Gallery’s Canadian warehouse. All Company gift cards will continue to be honored during the Sale.”

Management, in concert with its advisors and Farber, intends to work as expeditiously as possible to maximize the outcome for the benefit of all stakeholders.

More information about the NOI process can be obtained by visiting Farber’s website at and clicking on the Movie Gallery Canada, Inc. link under Current Engagements.

About Farber Financial Group
Farber Financial Group ( provides specialty financial services for rescuing, refinancing and rebuilding businesses, including: corporate insolvency and restructuring, forensic accounting, fraud investigations, distressed financial advisory services, corporate finance, mergers & acquisitions, business strategy & valuations, turnarounds, CFO interim management and opportunity assessments. Farber is based in Toronto, Canada and is internationally a member of Begbies Global Network (

About Schottenstein Bernstein Corporation
SB Capital Group, a Schottenstein affiliate, is a leader in the field of asset recovery, rescue finance, restructurings and store closing / event sales. With a portfolio of businesses and investments across a wide area of sectors including retail, consumer products, franchising, licensing and real property, SB Capital Group’s specialties include asset disposition services, acquisitions, financial solutions, as well as appraisal and valuation services. Please visit to discover the many ways SB Capital Group helps businesses successfully manage change.

About Tiger Capital Group
Tiger and affiliated companies provide comprehensive advisory, valuation, auction, management, and disposition services for a broad range of retail, wholesale, and industrial companies. Over the past 30 years, we have managed more store closings than any other business in the industry and have provided inventory appraisals on behalf of a wide range of industries and merchants. Our focus is to help retailers, asset-based lenders and other financial institutions understand the underlying value of inventory and to provide key monitoring advice. To learn more about Tiger Capital Group, please visit

About Hudson Capital Partners, LLC
Hudson Capital Partners, LLC offers an extensive array of professional solutions to the challenges retailers face today, including management of excess, obsolete and discontinued inventory, changing geographic and demographic circumstances, unproductive store sites, and real estate and liquidity issues. The firm’s diversified staff is experienced at performing strategic store closings and relocations, fixed asset dispositions, wholesale inventory buyouts and lease mitigations. Through its advisory arm, HCP Asset Advisors, the firm provides appraisals and asset advisory services. To learn more about Hudson Capital Partners, please visit

Movie Gallery and VHQ Store Locations in Canada

Street Address			City			Province
88 Howarth Street		Red Deer		AB
69 Dunlop Street		Red Deer 	  	AB
266 4th Street Sw 	  	Medicine Hat 	  	AB
2034 19th Avenue 	  	Didsbury 	  	AB
5015 51st Avenue 	  	Eckville 	  	AB
104 2nd Avenue East 	  	Hanna 	 	 	AB
2-4601 50th Avenue 	  	Olds 	  		AB
80 Hewlett Park Landing		Sylvan Lake 	  	AB
4921 50th Street 	  	Wetaskiwin 	  	AB
2347 & 2349 Rabbit Hill Rd. 	Edmonton 	  	AB
103-11030 100th Street 	  	Grande Prairie 	  	AB
106 Park Street 	  	Hinton 	  		AB
#4800 Hwy 2a 	  		Ponoka 	  		AB
717 20th Street Ne 	  	Medicine Hat 	  	AB
6608 48th Avenue 	  	Camrose 	  	AB
5104 50th Avenue 	  	Cold Lake 	  	AB
83 Carry Drive 	  		Medicine Hat 	  	AB
5541 60th Street 	  	Vegreville 	  	AB
202 Main Street, Sw 	  	Slave Lake 	  	AB
5007 47th Avenue 	  	Taber 	  		AB
166 Columbia Blvd West 	  	Lethbridge 	  	AB
838 Main Street 	  	Pincher Creek 	  	AB
2300 Pine Plaza 	  	Grande Cache 	  	AB
17 Athabasca Avenue 	  	Devon 	  		AB
555 Main Street 	  	Cardston 	  	AB
11001 20th Avenue 	  	Blairmore 	  	AB
4325 50th Avenue 	  	St Paul 	  	AB
#100-4300 South Park Drive	Stony Plain 	  	AB
100-1040 Railway Avenue		Canmore 	  	AB
5004 Dahl Dr.			Whitecourt 	  	AB
110-800 Pine Road 	  	Strathmore 	  	AB
109-110, 10011 92nd St 	  	Grande Prairie 	  	AB
8802 100th St. Unit 17 	  	Morinville 	  	AB
18352 Lessard Road 	  	Edmonton 	  	AB
102-9505 68th Avenue 	  	Grand Prairie 	  	AB
10004 Rainbow Blvd. 	  	High Level 	  	AB
3760 56th Street 	  	Wetaskiwin 	  	AB
5101 Broadway Ave. 	  	Blackfalds 	  	AB
Bay 4, 6842-50th Ave 	  	Red Deer 	  	AB
4819-50th Avenue 	  	White Court 	  	AB
3708-50th Avenue 	  	Lloydminster 	  	AB
9902-93rd. Street 	  	Fort Saskatchewan	AB
3121-49th Ave			Red Deer 	  	AB
1-312 Cassils Road West		Brooks 	  		AB
400-650 South Railway Ave. E	Drumheller 	  	AB
#6, 4502-50th Street 	  	Ponoka 	  		AB
#002, 4302-50th Street 	  	Leduc 	  		AB
1066-11300 Tuscany Blvd. N.W.	Calgary 	  	AB
101 Centre Street North		Sundre 	  		AB
3566 Garrison Gate S.W.		Calgary 	  	AB
6490 Old Banff Road S.W.	Calgary 	  	AB
4923 47th Avenue 	  	Innisfail 	  	AB
9804 100th Street 	  	Peace River 	  	AB
4905 46th Street 	  	Bonnyville 	  	AB
10200 - 100th Street 	  	Westlock 	  	AB
4905-50th Avenue 	  	Barrhead 	  	AB
1111 10th Street 	  	Wainwright 	  	AB
1915 20th Avenue 	  	Coaldale 	  	AB
Bay 101 5003 30th Ave 	  	Beaumont 	  	AB
4700 - 53rd Avenue 	  	High Prairie 	  	AB
8701 94th Street 	  	Fort Saskatchewan	AB
5105-50th Street 	  	Drayton Valley 	  	AB
5040-50th Avenue 	  	Rocky Mountain House	AB
5030 Highway 2a 	  	Lacombe 	  	AB
5028 50th Avenue 	  	Vermilion 	  	AB
330 45th Street, Unit 108	Edson			AB
5500 Sunshine Coast Hwy #310	Sechelt 	  	BC
5301 - 25th Avenue 	  	Vernon 	 	 	BC
1-619 Vernon Street 	  	Nelson 	  		BC
9831-98a Avenue 	  	Fort St John 	  	BC
5101 South Access Road 	  	Chetwynd 	  	BC
470 Stuart Drive W Unit 7	Fort St James 	  	BC
1280 Cedar Avenue 	  	Trail 	 	 	BC
B5-465 Merecroft Rd 	  	Campbell River 	  	BC
1800 Tranquille Road 	  	Kamloops 	  	BC
651 Main Street 	  	Lillooet 	  	BC
1-136 Tapton Avenue 	  	Princeton 	  	BC
3-192 West Island Highway	Parksville 	  	BC
575 Old Hope Princeton Way	Hope			BC
9522 Main Street 	  	Winfield 	  	BC
665 Newman Road 	  	Quesnel 	  	BC
13-600 Mackenzie Blvd 	  	Mackenzie 	  	BC
4-4569 10th Avenue 	  	New Hazelton 	  	BC
2315 Beacon Ave. 	  	Victoria 	  	BC
845 Deloume Road 	  	Mill Bay 	  	BC
6638-6660 Sooke Road 	  	Sooke			BC
2225 Guthrie Road 	  	Comox			BC
2741 Forksdale Ave. 	  	Merritt 	  	BC
3350 10th Street 	  	Houston 	  	BC
460 - 5240 Domano Blvd 	  	Prince George 	  	BC
155 Malcolm Drive 	  	Quesnel 	  	BC
503 Hwy 16 	  		Burns Lake 	  	BC
140-630 17th Street 	  	Castlegar 	  	BC
370 Proctor Street 	  	Williams Lake 	  	BC
1040 Alaska Avenue 	  	Dawson Creek 	  	BC
8950 Granville Street 	  	Port Hardy 	  	BC
145-149a City Centre Mall	Kitimat 	  	BC
4296-D Joyce Avenue 	  	Powell River 	  	BC
101-1st Avenue East 	  	Prince Rupert 	  	BC
1323 Main Street 	  	Smithers 	  	BC
4730 Keith Road 	  	Terrace 	  	BC
112 1st Street West 	  	Vanderhoof 	  	BC
561 Highway 3 	  		Fernie 	  		BC
5211 Airport Drive 	  	Fort Nelson 	  	BC
103-Highway 97 North 	  	100 Mile House 	  	BC
240 Main Street 	  	Selkirk 	  	MB
886 Thornhill Street 	  	Morden 	  		MB
211 Saskatchewan Avenue West	Portage La Prairie	MB
35 Main Street 	  		Flin Flon 	  	MB
380 Hazelwood 	  		The Pas 	  	MB
247 Main St 	  		Steinbach 	  	MB
138 Main Street #11 	  	Sussex 	  		NB
337 Connell Street 	  	Woodstock 	  	NB
210 King St 	  		St Stephens 	  	NB
15 A Du Vestiaire Street	Shediac 	  	NB
Sq. Mall - Columbus Drive	Carbonear 	  	NL
76 Manitoba Drive 	  	Clarenville 	  	NL
42 Queen Street 	  	Stephenville 	  	NL
16 Murphy Square 	  	Corner Brook 	  	NL
1 Mt. Bernard Ave 	  	Corner Brook 	  	NL
3-153 Reserve Street 	  	Glace Bay 	  	NS
3737 Highway 3 	  		Crowell 	  	NS
47 Paint Street #6 	  	Port Hawkesbury		NS
1016 Central Avenue 	  	Greenwood 	  	NS
31 Weaver Street 	  	Pictou 	 	 	NS
3290 Hwy 2 	  		Fall River 	  	NS
86 Starrs Road 	  		Yarmouth 	  	NS
#100, 314 Old Airport Rd. South	Yellowknife 	  	NT
351 Scott Street 	  	Fort Frances 	  	ON
105 Peter Street 	  	Port Hope 	  	ON
29 Mission Rd 	  		Wawa			ON
10 Superior Plaza 	  	Marathon 	  	ON
63 Main Street 	  		Grand Bend 	  	ON
313 Main Street East 	  	Kingsville 	  	ON
450 Garrison Road 	  	Fort Erie 	  	ON
281 Goodrich Street 	  	Port Elgin 	  	ON
372 Queen St. East 	  	Acton			ON
12 Caradoc Street North		Strathroy 	  	ON
120 Thames Street North		Ingersoll 	  	ON
35 Sandwich Street South	Amherstburg 	  	ON
159 Main Street East 	  	Grimsby 	  	ON
3 Arthur Street 	  	Arnprior 	  	ON
140 Queen Street 	  	Lakefield 	  	ON
97 Picton Main Street 	  	Picton 	 	 	ON
627 Fortington Street S.	Renfrew 	  	ON
802 Main Street East 	  	Shelburne 	  	ON
3080 Highway 69 North 	  	Val Caron 	  	ON
220 Main Street North 	  	Exeter 	  		ON
316 Talbot St. North 	  	Essex 	 	 	ON
30 Queen Street South 	  	Tilbury 	  	ON
2135 Dorchester Road 	  	Dorchester 	  	ON
1 Pine Drive 	  		Parry Sound 	  	ON
9-206497 Highway 26 	  	Meaford 	  	ON
825 10th Street 	  	Hanover 	  	ON
7 Commerce Road 	  	Angus 	 	 	ON
4610 Ontario Street 	  	Beamsville 	  	ON
4-60 Brunetville Road 	  	Kapuskasing 	  	ON
771 Pembroke St. East 	  	Pembroke 	  	ON
39 Chamber St 	  		Smith Falls 	  	ON
65 Van Horne Avenue 	  	Dryden 		  	ON
5 Chipman Street 	  	Kenora 	 	 	ON
141 Hastings St N 	  	Bancroft 	  	ON
229 Whitewood Avenue 	  	New Liskeard 	  	ON
341 Notre Dame Street 	  	Belle River 	  	ON
33 Wilson St 	  		Perth 	  		ON
800 Centre Street 	  	Espanola 	  	ON
98 La Fleche Blvd Unit 2	Casselman 	  	ON
1011 Victoria Street 	  	Petawawa 	  	ON
505 Granville St 	  	Summerside 	  	PE
1112 6th Avenue, Ne 	  	Swift Current 	  	SK
1591 100 Street 	  	North Battleford	SK
506-508 Main Street 	  	Melfort 	  	SK
1200 8th St West 	  	Nipawin 	  	SK
815 Gray Avenue 	  	Saskatoon 	  	SK
503 La Ronge Avenue 	  	La Ronge 	  	SK
85 Government Rd. N.W. 	  	Weyburn 	  	SK
1310 7th St. 	  		Estevan 	  	SK
517 Main St. 	  		Kindersley 	  	SK
114 9th St. West 	  	Meadow Lake 	  	SK
1307a 8th Ave 	  		Humboldt 	  	SK
520 Central St. W. 	  	Warman 	  		SK