Troy University Ponders Effects of Possible Movie Gallery Bankruptcy - WSFA.com Montgomery Alabama news.

Troy University Ponders Effects of Possible Movie Gallery Bankruptcy

WSFA 12 News is following a developing story out of Pike County.

Movie Gallery Inc. plans to file chapter 11 bankruptcy later this month.

That has many people wondering about Troy University's plans for "Movie Gallery Veteran's Stadium"

Troy is in year 5 of a 20-year contract with the now financially troubled video company.

The university makes $250,000 dollars a year on the contract.

Now, with pending bankruptcy, the school is waiting to see what the company will do next.

Tom Davis of Troy University's Public Relations Department says, "Right now given the events of the day,and the fact that it's so early in the process, we're not really able to speculate what that [bankruptcy] will bring, but we will be in contact with officials at Movie Gallery all throughout the process...to find out what it ultimately does mean for Troy."

Movie Gallery plans to emerge from chapter 11 bankruptcy next year.

 

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