The Dutch Entertainment Retail Group (ERG), owner of the Videoland, MovieMax and Movies & More stores, has been declared bankrupt. However, the individual stores will remain open for business.
ERG was the biggest distributor of rental videos to stores across The Netherlands and Belgium. The group delivered 420 locations.
In a statement, the ERG said that the video rental business has been steadily decreasing for the past seven years and that investments in online innovation so far had not delivered enough revenue.
The Videoland and MovieMax stores will remain open and have found alternative sources for their video supply. Also, the Videoland VOD portal on KPN’s IPTV service remains unaffected.