Reel to close?

According to Hollywood Reporter the extremely popular US based movie retailer, Reel.com, is to close.

According to the news article, the parent company Hollywood Entertainment Corp. is expected to announce the closure plans this Monday following almost $100 million in losses during 1999. Many people have jumped to the conclusion that Reel will suddenly stop taking orders on Monday - this is not the case. We can however expect a date for the closure to be announced on Monday.

The only information we have on this comes from Hollywood Reporter and to my knowledge it hasn't been confirmed by any other source. That said, this doesn't look good and I'd advise anyone to be careful when placing pre-orders - don't order any discs due for release more than a month away. As soon as we have more information we'll be sure to let you know.

Colin Polonowski

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