[Business] Hastings didn’t get new comics this week
If you strolled down to your local Hastings, hoping to find a bunch of new comics to pick up, you may have seen a notice that not only would the store not be getting any new comics, but all comics in stock were on sale for a deep discount.
The Hastings woes continues it seems. We reported on Sunday that the company was seeking a buyer, then yesterday we examined the Chapter 11 filings for the company. In the top creditors list, we discovered Hastings owed Diamond Comic Distributors over a million dollars for comics not paid for, which is probably why the comic distributor didn’t send new stuffs this week.
Major Spoilers reached out to Diamond Comics for comment on this topic, but they were not able to issue a comment at the time.
While local comic shops may be secretly cheering the closing of a national chain store, as it means more traffic coming their way, keep in mind that Hastings was the ONLY comic shop for many of the 126 cities the chain served. This means even more people won’t be able to access comics, or discover them for the first time.
Hastings is currently looking for a buyer, and hopes it can find someone in the next 60 days. Hastings sold for $24 million two years ago, and with the amount owed to creditors, the sell price would have to be north of $50 million in order for the current owners to break even in the sale.
via Bleeding Cool