More on the Reel closure
It appears that Reel themselves are denying that there are any plans for closure. In a number of replies to queries they have received, they have stated that "Reel.com is here to stay for years to come".
With the official announcement allegedly due tomorrow, I don't want to jump to any sorts of conclusions. However, it has been noted in a number of places (including VideoTropic) that it is likely that Hollywood Entertainment Corp. will shut down the mail order side of Reel leaving only the information side of the business functioning.
Please don't panic. I have had numerous mails from people who have pre-ordered discs due for release well into the latter months of this year, in fact I have done the same - you can be sure that Reel will keep us informed if the events speculated on over the last couple of days do eventually come to pass.