Bankrupt Hastings for Sale

Posted on Wednesday, August 10th, 2016 at 4:38 pm    

Hastings, the chain of stores that sells movies, books, music, games, and more declared bankruptcy. The corporation is for sale and allotted itself 30 days to find a buyer. At the end of the 30 day period, Hastings will close its 126 stores, sell, or be auctioned off if multiple buyers present an interest.

In the meantime, Hastings said they plan to stop accepting gift cards, are no longer buying back inventory, and are ending game rentals. After securing a buyer, stores may be able to continue functioning as before. Hastings was sold almost two years ago for $21.4 million to Draw Another Circle, LLC, who blames online competitors such as Amazon for the lack of demand the corporation is experiencing.

If you are considering declaring bankruptcy, a lawyer may be able to help you make the financial choices most beneficial to you. To speak with a Raleigh bankruptcy lawyer, call the Bradford Law Offices, PLLC today at (919) 758-8879.