After over three decades in operation, the famous Speedy Video Distributors Sdn Bhd among 90’s kids has announced that it will closed all its retail outlets in the country. Established in 1989, Speedy Video gained popularity for its array of international movie, drama titles and music albums.
Here’s their official announcement on Speedy ‘s Facebook page
The popular video retailer made official announcement on closing down all 14 outlets in Malaysia on its Facebook page, June 13, 2020.
“Dear customers, our company are sadly to announce that we are going to close down all of our outlets soon. “All outlets currently are having closing down sales. Please come and visit us to enjoy the last promotions! “Thank you for your support during all these year. Please share the post for us.”
The company has been severely affected by the MCO
Although it is not stated in its post the reason of the closing down, but it was likely to have been severely affected by the movement control order (MCO) enforced to contain the Covid-19 pandemic.
All its stores nationwide are currently carrying out “closing-down” sales
According to its post, all outlets currently having closing-down sales. However, the popular video retailer did not specify a date for the closure yet but it did share the names of the stores that are still operating and the list of items that are on sale.
Its flagship store in Mid Valley Megamall closed in September last year due to the growing of broadband and satellite TV
Speedy has had the sole rights to home releases from major Hollywood studios such as Paramount Pictures and 20th Century Fox through its 92 stores since 1989.
Furthermore, Speedy managed to open its flagship store in Mid Valley Megamall after 10 years it started out. However, the store closed in September 2019 due to the growing availability of high speed broadband, satellite TV, as well as streaming websites that saw more and more people turning to their computer screens instead.
You guys can visit to the said 14 stores to enjoy the last promotions.