Stores in franchise will close doors by Oct. 31
KINGMAN - Hastings Entertainment is closing all its stores after filing for bankruptcy and is expected to complete all sales of merchandise by Oct. 31st at the latest.
This came as sad news for several people visiting the Hastings store here in Kingman, which has been a fixture in the area for many years.
"I come here quite a bit," says Mary Gaudio, an employee of Mangelsdorf Dentistry, "Everyone here was real nice. It was a nice place to relax during a lunch break.
"It's sad. It's the only video store in town. I hate to see it close, it's been a good store over 10 years (that I've lived here)."
Zach Roland, who moved here in 1995, agreed.
"It's a drag," he said. "I knew Rick Garland (a manager at Hastings several years ago). It used to have chairs, you could do a little reading (in the store) before you purchased a book. It's too bad."
Among the immediate changes, video rentals came to an end Thursday.
Hastings released this statement:
"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.
"All Hastings stores, our e-Commerce business and our corporate office will all discontinue operations at the end of this process. On Friday, July 22, the Bankruptcy Court is expected to approve our agreement with the companies who will oversee our store closing sales, Hilco Merchant Resources LLC and Gordon Brothers Retail Partners LLC.
"We thank our customers and employees for their loyalty over the years, and we hope to see our customers at store closing sales."
Hastings stores will no longer accept refunds, gift cards, credits on accounts or exchanges. Customers can submit proof of claims at www.omnimgt.com/hastings.