Hastings Entertainment, a popular electronics chain, will close its Auburn store Oct. 31.
Like many traditions, Hastings Entertainment will be missed by many of its customers.
Hastings was opened in 1968 and currently have 123 stores nationwide. These stores sell different things such as CDs, comics, and video games.
“At Hastings, our mission has always been to bring our customers a diverse array of entertainment products and collectibles to appeal to many interests,” said Jim Litwak, the president and COO of Hastings.
Efforts to contact representatives from the Hastings location were not successful by the time of the publication of this article.
Rachel Rosenblatt, the managing director and strategic communications official for Hastings, said the company filed for Chapter 11 Bankruptcy because _________.
“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,” Rosenblatt said.
While the company continued the process of filing Chapter 11 all of the Hastings stores maintained the same business routine while their offer was considered by other potential buyers.
On July 21, the joint venture, Gordon Brothers Group and the Hilco Merchant Resources LLC were the winning buyers, according to a Hastings release. On July 23, customers were notified by the Gordon Brothers Group and the Hilco Merchant Resources about the different sales the Hastings stores would offer.
The Gordon Brothers Retails Partner LLC and the Hilco Merchant Resources are “joint venture partners” who were bidders during the bankruptcy auction which occurred on July 20. These sales include discounts which would give customers 30 percent sales on different materials such as books, music, and games.
This website give customers the opportunity to access different products. These products include different kinds of entertainment products and toys. Previously their online store offers its customers different options on prices along with their products. However items will not be available for customers to shop on the online store any longer. This means that the sale discounts will only pertain to shopping in the stores.
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