BlowOut Files For Chapter 11
Entertainment, Portland, Ore., an operator of leased-space video departments in supermarkets and superstores, last week sold about 90 of its in-store shops to Movie Gallery here. BlowOut also filed for Chapter 11 bankruptcy protection after it failed to obtain new capital or boost its cash flow.
Movie Gallery paid $2.4 million for the shops, which include 79 located within Wal-Mart Supercenters and eight in Super Kmart Centers. The BlowOut sho