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If Movie Gallery has just posted on their corp website they are not closing any stores why are they currently frantically trying to renegotiate their Hollywood Video leases with landlords?
Wiki User
∙ 14y ago
Since most of the comments available on public web sites revolve around MG/HV renegotiating the rents at some locations we can surmise these facts:
1. The company is in big trouble, ie; lack of cash
2. The company sees landlords as a "divided bunch" Therefore, a group open to exploitation by the company in the form of rent credits, not paying on time, etc.
3. Many "facts" are being thrown around by those people negotiating on the behalf of MG?HV, such as sales are down, Redbox is a threat, etc. What's true?
4. Until landlords as a group wake up and form some unity amongst themselves, MG?HV will continue to have the upper hand in negotiations
As a landlord to MG/HV I propose a Linkedin group of landlords. You'd be free to put as much or little information into the group and your profile as you wish. And, there are former MG/HV employees who would love to be a part of this group. Lets all get together via the web and put these stupid negotiation tricks to rest!
Wiki User
∙ 14y ago
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