200 GameCrazy stores closing

According to a report in Home Media Magazine, game retailer GameCrazy is going through some hard times right now. The game store chain owned by video rental firm Movie Gallery (which is privately financed by Hollywood Video) operates about 680 stores around the country. Approximately 200 hundred of those stores at various locations will are slated to be shut down.

Workers at Game Crazy locations in Alhambra and Rosemead, Ca., confirmed the closures to Home Media Magazine, saying that their stores soon would begin 30 percent-off sales on all games and hardware next week.

“If you have a game on order, you better come pick it up,” said one employee at the Alhambra Crazy. “We’re done in three weeks.”

Analyst Michael Pachter told the publication that he thinks Movie Gallery just ran out of patience and money, but he sees the game industry turning around soon and expects that other video rental chains - like Blockbuster - that deal in video games will weather this economic turmoil.