Bankruptcy Court Approves Movie Gallery Reorganization Plan

Dothan-based Movie Gallery's attempt at restructuring may be proving to be a success.

Officials say its bankruptcy reorganization plan was approved by creditors by 90 percent vote.

They expect to emerge from Chapter 11 protection in the second quarter.

Last week, the chain conducted a third - and what it calls its final - round of store closings to save money, with 160 nationwide to be shuttered.

The company closed 400 stores in February and 520 in September, for a total of more than 1,000 unprofitable stores closing across the country. It now has 3,490 stores.

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