KUALA LUMPUR, June 14 — Speedy Video Distributors Sdn Bhd has announced that it will shutter all its retail outlets in the country.
The company announced the decision on Facebook as well as an accompanying clearance sale at all its remaining stores nationwide.
“Dear customers, our company are sadly [sic] 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 [sic]. Please share the post for us,” the firm said in its post.
The company did not state in its post but it was likely to have been severely affected by the movement control order (MCO) enforced to contain the Covid-19 pandemic in Malaysia.
Since 1989, 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.
Ten years after it started out, Speedy opened its flagship store in what was then the newest shopping mall in Kuala Lumpur, the Mid Valley Megamall.
That store closed in September last year with 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.
Speedy listed 14 stores that are still operating nationwide and these stores will be offering said sales.