ST PAUL, MN-Video Update, aSt. Paul-based video rental chain, has hired KeenRealty, LLC to organize a bankruptcy auction of theleaseholds of about 120 of its retail sites.

Theauction date and time is to be determined, saidofficials at Keen Realty, a real estate firm thatspecializes in restructuring retail real estate andlease portfolios and selling excess assets.

The storesites are in 24 states, and they range in size from4,000 sf to 13,000 sf. Video Update, Inc. filed forChapter 11 protection on Sept. 18.

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