• Most Popular
  • Most Shared

Movie Gallery to file for Chap. 11 protection: report

NEW YORK
Fri Oct 5, 2007 6:03pm EDT

NEW YORK (Reuters) - Video rental company Movie Gallery MOVI.O is expected to file for Chapter 11 bankruptcy protection under a deal with key creditors that will allow it to convert its bonds into stock, the Wall Street Journal reported on Friday.

Bonds

Citing people familiar with the matter, the Journal said Movie Gallery would likely file for bankruptcy protection this month with the hope of emerging from Chapter 11 early next year.

Company representatives were not immediately available for comment.

(Reporting by Michele Gershberg)
Bonds


More from Reuters

Photo

Democrats gain 60th vote on health bill

WASHINGTON (Reuters) - Senate Democrats reached a compromise on Saturday with the last holdout senator that secured the 60 votes they need to pass a broad healthcare overhaul sought by President Barack Obama.

» More Top News
A woman shops at a Sam's Club store, a division of Wal-Mart Stores, in Bentonville, Arkansas June 4, 2009. REUTERS/Jessica Rinaldi

The food-stamp economy

On the last day of every month, shoppers at Walmart load their carts with food and household items and wait for the midnight hour. Is this the new normal in America?  Full Article 

U.S.
Two men shake hands in a file photo. REUTERS/File

Let's make a deal

The battered M&A sector will make a tepid recovery in the coming year and three hot sectors will lead the way, according to a Thomson Reuters analysis.  Full Article 

Global Deals Review