Video retailer Speedy Video is closing its doors after more than 30 years in business. The company announced the closure in a Facebook post, adding that it is having closing down sales in all its outlets. "Thank you for your support during all these years," the company said.
All 14 outlets will cease operations, including those in Ekocheras Mall, Ampang Point, IOI City Mall, Aeon Bukit Tinggi, Mid Valley South Key, Aeon Bandaraya Melaka and Star Parade. Last year, the company also shut its flagship store in Mid Valley Megamall, as well as outlets in Aeon Bukit Mertajam, Aeon Taman Equine, and Aeon Taman Universiti. A+M has reached out to Speedy Video for additional information on the reason behind the closure and the impact on its marketing team.
Since its founding in 1989, Speedy Video has been well-known for offering a wide range of international drama and movie titles, as well as the latest music albums. It is among the series of companies to wind down during the COVID-19 pandemic. Just last week, F&B restaurant Delicious Group ceased operations after almost two decades. The restaurant said on social media: "In this ever challenging and difficult business environment, we thought that [closing] was the most prudent and best course of action." Separately in the hospitality industry, Swiss Garden International also closed two of its hotels while Four Points by Sheraton Sandakan in Sabah has also ceased operations in May.