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Article: Image Entertainment Announces Closure Of U.S. Laser Subsidiary
- Article from:
- PR Newswire
- Article date:
- May 8, 1998
CopyrightCOPYRIGHT 1998 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CHATSWORTH, Calif., May 8 /PRNewswire/ -- Image Entertainment, Inc. (Nasdaq: DISK) today reported that it has closed its only active subsidiary, U.S. Laser Video Distributors ("USL").
The closure follows Image's consolidation of a majority of USL's optical disc distribution activities. The closure is intended to save corporate cash flow by eliminating the Company's only retail store. The closure is also expected to boost operating efficiencies by eliminating the need to hold dual and redundant inventory to service USL customers.
Further, in October 1997, USL ceased publication of Laserviews whose circulation had waned in recent years. Image ...