| Business Summary | | Video
City,
Inc.
owns
and
operates
several
chains
of
retail
video
specialty
stores.
As
part
of
its
strategic
plan
of
acquisition,
during
the
period
from
March
1998
through
March
1999,
the
Company
grew
through
ten
separate
acquisitions
from
18
stores
in
California
to
more
than
130
video
stores
located
in
12
states.
In
July
and
August
1999,
the
Company
sold
49
stores
in
Oregon
and
Washington
to
Blockbuster,
Inc.
Currently,
Video
City
owns
and
operates
74
video
stores
and
manages
225
West
Coast
Entertainment
Corporation
video
stores.
The
Company
filed
for
bankruptcy
protection
under
Chapter
11
on
August
24,
2000. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Video
City,
Inc.
owns
and
operates
several
chains
of
specialty
video
stores
in
the
West
that
rent
and
sell
videos,
video
games
and
related
items.
For
the
three
months
ended
4/30/00,
revenues
fell
29%
to
$9.5
million.
Net
loss
applicable
to
Common
totalled
$3.5
million,
up
from
$931
thousand.
Revenues
reflect
the
divestiture
of
49
stores
in
Washington
and
Oregon.
Higher
loss
also
reflects
higher
costs
for
professional
services
and
salaries
as
well
as
a
one-time
restructuring
cost. | More
from
Market Guide: Significant
Developments |
| Officers | | | FY1999 Pay | |
| Robert Lee, 37 Chairman
and CEO | $231K | Richard Gibson, 37 Pres,
COO | 145K | James Craig Kelly, 42 Exec.
VP, Director | 168K | Dollar amounts are as of 31-Jan-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|