Retail Industry
Industry: Email Alert RSS FeedWholesalers take a fall: ETD exits video, Valley in Chapter 11.(East Texas Distributin Inc., Valley Media)(Brief Article)
Video Business, November, 2001 by Garrett, Diane
Thanksgiving week was a rough and wild one for distribution, with veteran wholesaler ETD shuttering its video operation and Valley Media filing for Chapter 11 bankruptcy protection. The apparent exits of ETD and Valley from the video business reduce the distributor ranks to five: Ingram, VPD, WaxWorks, Baker & Taylor and Flash Electronics.
Beleaguered Valley filed for Chapter 11 protection in U.S. District Court in Delaware on Nov. 20, unable to avoid that fate after merger talks with Alliance Entertainment broke down this month. The Woodland, Calif.-based distributor, whose once substantial video sell-through business has evaporated in the past few months, said it intends to keep operating as a debtor-in-possession while under court...
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