Rumor: GameCrazy closing all of its doors

Sad news if this turns out to be true, but Joystiq is reporting that GameCrazy will be closing the remainder of their 250 store fronts some time in the next two weeks. The site has been in contact with multiple employees and called multiple stores across the country and it seems that they are all closing. Here are the words straight from an employee’s mouth:

“Movie Gallery as a whole [GameCrazy’s parent company] yesterday filed for Chapter 7, which indicates that the whole company is going through liquidation. I was in on the conference call yesterday … it looks like this week and the week after they’re going to go through finding a liquidation company to buy [the remaining products]. It’s going to be business as usual for the next two weeks, we’ll see our releases for the next two weeks, but we’ll likely be closed by the end of June.”

Neither Movie Gallery’s stock page or the SEC database have any information or releases on the filing up yet, but from the multiple confirmations that Joystiq has received they find it hard to believe that this is a massive ruse. Employees are saying that anyone with a pre-order beyond the next two weeks should probably head in and pick up their deposits.

Any GameCrazy employees in the audience care to back this up?

Rumor: GameCrazy closing all remaining stores [Joystiq]