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As you may know, Movie Gallery Inc. filed bankruptcy not to long ago. In a desperate attempt to regain its once #2 spot in the DVD rental chain, the court has approved its "reorganization" to pull itself out of financial ruin.

Movie Gallery CEO Joe Malugen says:

“We are very proud of what we have been able to accomplish during our short time in Chapter 11 and look forward to working with all of our stakeholders through the remainder of our restructuring and beyond."