After a month of back and forth in bankruptcy court, and even with a seven day extension, Hastings will close for good at the end of October.
On Wednesday, Hilco Merchant Resources LLC and Gordon Brothers Retail Partners LLC purchased Hastings specifically to liquidate the stores, according to the Hastings.com website.
“Five weeks ago, Hastings filed for Chapter 11 protection with the goal of expediting our search for a buyer that would help us complete our remerchandising strategy and position our business for long-term success. At the completion of the sale process yesterday, the winning buyer was a joint venture that will instead oversee a liquidation of our stores to ensure we are maximizing the value of all of our remaining merchandise and assets as we prepare to close.”
As it stands right now, all 126 stores will close on October 31, 2016.
I went to our local Hastings this morning, and there was no information posted on the closing process, but over the next couple of weeks, I expect to see a number of sales to sell off the merchandise. On the plus side, there are plenty of sixth-scale figures I’ve had my eye on for some time, but on the downside, this means there is no longer a comic book store within an hour and a half of our city.