Game Crazy to shutter 200 stores in October

US retailer Game Crazy is to close 200 of its approximate 680 stores at the end of October.

According to the company, the move is designed to eliminate those that are currently underperforming, a situation it puts down to the poor economic climate.

"Movie Gallery Inc is currently operating in an unprecedented consumer/retail environment," a spokesperson told Joystiq. "In order for us to continue to best serve our millions of customers across North America we're addressing underperforming stores and ensuring that there is sufficient [return on investment] associated with each of these stores going forward.

According to sources working at Game Crazy stores attached to Hollywood Video locations, the rental chains will remain open after the shuttering of the retail businesses.

In 2006, Game Crazy stores contributed 13 per cent to Movie Gallery's total revenue, derived also from its Movie Gallery and Hollywood Video outlets. The company suffered further financial difficulties in 2007, when it was forced to close 520 stores and file for Chapter 11 bankruptcy protection.