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All Oklahoma Hastings stores to close

Hastings in the Chisholm Shopping Center in Yukon, Thursday July, 21  2016. 11 Oklahoma stores, are set to close as part of a sale to two companies tasked with liquidating the company.  Photo By Steve Gooch, The Oklahoman
Hastings in the Chisholm Shopping Center in Yukon, Thursday July, 21 2016. 11 Oklahoma stores, are set to close as part of a sale to two companies tasked with liquidating the company. Photo By Steve Gooch, The Oklahoman

All 126 Hastings Entertainment locations nationwide, including 11 Oklahoma stores, are set to close as part of a sale to two companies tasked with liquidating the company. 

On Wednesday, Amarillio-based Hastings Entertainment Inc. completed the sale of companies to Hilco Merchant Resources LLC and Gordon Brothers Retail Partners LLC, according to court documents. The two buyers will oversee the liquidation of all of Hastings stores, which is expected to be completed by the end of October.

Hastings filed for Chapter 11 bankruptcy in June, hoping a buyer would emerge to continue to businesses operations, but no such purchaser came forward. 

“At the completion of the sale process, 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,” Hastings said in a news release Thursday.

Hastings has stores in Ada, Altus, Ardmore, Bartlesville, Enid, Lawton, Muskogee, Norman, Ponca City, Stillwater and Yukon, according to the company website. 

Brianna Bailey

Brianna Bailey joined The Oklahoman in January 2013 as a business writer. During her time at The Oklahoman, she has walked across Oklahoma City twice, once north-to-south down Western Avenue, and once east-to-west, tracing the old U.S. Route 66.... Read more ›

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