Movie Gallery creditors agree to reorganization

DOTHAN, Ala. Movie Gallery has announced that an overwhelming majority of creditors voted in support of its reorganization plan. According to the company, the plan was accepted by more than 90% of the approximately 1,500 creditors who voted on it.

"Through our ongoing restructuring we have positioned Movie Gallery and Hollywood Video as stronger businesses, better equipped for long-term success," said Joe Malugen, chairman, president and ceo of Movie Gallery. "We are confident that our plan represents a fair and equitable outcome for all of the creditors involved. We are pleased to have the strong support of our creditors and appreciate the continued loyalty of our customers, suppliers and employees."