CloseoutVideo.com Buys Entire Sight & Sound Inventory Of More Than 205,000 VHS And DVD Units

23-Jun-00

CloseoutVideo.com announced it was the successful bidder on the entire Sight & Sound Distributing, Inc. inventory of more than 205,000 VHS and DVD units, with some 6,600 titles. When posted to its site, this will drive CloseoutVideo.com's available inventory well beyond 20,000 titles and a half million units. ""This opportunity comes at a perfect time for our company,"" stated Closeout Chairman Ben Kugler. ""We've just gone live with our SAP integration, secured our new warehouse, and our Version 3 site is due to go live in August or September. Our people will be busy _ we hope to have this inventory up on the site in 30 days."" ""While we've been in this business for 12 years,"" continued Kugler, ""this kind of opportunity does not come along everyday. It is not our largest buy in the company's history, but it is certainly the most current, diverse, and deep inventory we have every purchased. Despite all that, we don't like to see Sight & Sound go down this way."" Sight & Sound Distributing, Inc. was one of the six largest, wholesale distributors of video media in the U.S. Despite a recent financial turnaround, Sight & Sound closed operations just four days after M.S. Distributing also shuttered. CloseoutVideo.com will be retailing this inventory directly to the consumer via its site, as well as moving some of it to its existing brick-and-mortar retailer customers. About CloseoutVideo.com And Its Parent, The CloseoutCompanies.com The CloseoutCompanies.com has operated for more than a decade under its bricks-and-mortar name, Distribution Video & Audio (DVA). Prior to entering the retail market via the Internet, Closeout was one of (and still is one of) the largest wholesale/closeout distributors of new VHS, DVD, CD and gaming software in North America. The company is also one of the largest distributors of new and used entertainment product to libraries, school systems, government facilities, and others. CloseoutVideo.com is Closeout's first retail site, bringing videophiles and bargain shoppers the absolute lowest prices and widest selection available for movies. Follow-up sites will deliver that same shopping experience for music and games. Closeout is a pre-IPO, privately held corporation. For more information, visit www.CloseoutVideo.com.

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