Entertainment Retail Group Declares Bankruptcy
Video Rental Distributor's Business Declined for Seven Years
COLOGNE, Germany -- The Dutch Entertainment Retail Group, the biggest distributor to rental video stores across the Netherlands and Belgium and owners of the Videoland, MovieMax and Movies & More chains, has declared bankruptcy.
ERG delivered to 420 stores across the two countries. In a brief statement, the company said the video rental business has been declining steadily for the last seven years. Online services, such as Videoland’s VOD operation, have so far not made up for the drop in sales, the company said.
The Videoland and MovieMax stores have found alternative suppliers and will remain open, as will Videoland’s online service.