Dothan, Ala. - Movie Gallery, the large movie rental store chain that declared bankruptcy earlier this week, announced on Friday that its stock will be delisted from the Nasdaq on Oct. 25.

Alabama-based Movie Gallery, which is saddled with debt from its $1 billion acquisition of the Hollywood Video chain in 2005, said it does not plan to appeal the Nasdaq's decision, and expects its shares will continue to trade on the OTC Bulletin Board or in the "pink sheets" after Oct. 25.

Movie Gallery is the nation's second-largest movie rental chain behind Blockbuster, operating over 4,400 stores in the U.S. and Canada.

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