Hastings filed for chapter 11 bankruptcy in June 2016 due to being in $140 million worth of debt. They had hoped to be bought out, but there were no interested parties who stepped forward so the company went up for auction. Liquidation firms Hilco Merchant Resources LLC and Gordon Brothers Retail Partners LLC bought the company at the auction and over the course of three months they slowly liquidated all of the merchandise and displays. All 126 Hastings store locations closed across the nation along with the same fate of their competitors Blockbuster and Hollywood Video. The last Hastings store closed on October 31, 2016. Calendar Holdings LLC, operator of calendars.com and the Go! calendar and game retail stores, purchased Hastings’ intellectual property for $300,000.
Hastings Store Weekly Ad
This Hastings weekly ad was released on Sunday, November 1, 2015. It was one of the last weekly ads that they would ever produce. This Hastings ad featured a sale on movies, books, and toys! Their ads would typically be released in the Sunday newspaper. The ad would be a single double-sided glossy full-color ad with their latest promotions and sales.
Hastings Entertainment was a chain store that sold movies, music, books, video games, and also offered dvd rentals. Hastings was the place to “discover your entertainment”, but now you will need to find another source.
