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Going-Out-of-Business Sales to Begin at All Hastings Entertainment Stores

07/22/2016 | 01:46pm EDT

BOSTON, July 22, 2016 /PRNewswire/ -- Hilco Merchant Resources and Gordon Brothers Group announced today that they will begin going-out-of-business sales at all Hastings Entertainment ("Hastings") retail locations beginning Saturday, July 23rd. The joint venture partners were the successful bidders at the bankruptcy auction that took place on July 20th. Sales will offer discounts of up to 30 percent on the entire stock of books, videos, games and music.

Founded in 1968, Hastings is a leading multimedia entertainment retailer that combines the sale of new and used books, videos, video games and music. In June, the company initiated a comprehensive process to evaluate potential buyers of the business and, as part of that process, filed voluntary petitions under Chapter 11 of the U.S. bankruptcy code. Hastings operates 123 superstores, averaging approximately 24,000 square feet, primarily in medium-sized markets throughout the United States.

"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, President & COO, Hastings Entertainment, Inc. "Our hope was that the Chapter 11 process would help to prepare our business for the intended sale while also providing additional protections and financing to allow us to serve our customers as usual. Unfortunately, this process was unsuccessful. We thank our loyal employees and customers and encourage all to take advantage of the incredible savings this sale will offer on the superior selection of multimedia and entertainment products you have come to expect from Hastings."

A representative of the joint venture said, "We anticipate these well-known new and used movie titles, games and books to sell very quickly at up to 30 percent off the original price. Customers are encouraged to shop early for the best selection of their favorite products."

Merchandise will no longer be available on www.gohastings.com. Sale discounts apply in-store only. Furniture, fixtures and equipment are also available for sale.

Please reference store list below:

    ADDRESS                      CITY             STATE ZIP

    750 EAST GLENN AVE           AUBURN           AL        36830

    2340 HARRISON STREET         BATESVILLE       AR        72501

    1421 MILITARY RD             BENTON           AR        72015

    1360 HIGHWAY 64 WEST         CONWAY           AR        72032

    6808 ROGERS AVENUE           FORT SMITH       AR        72901

    1315 S CARAWAY RD.           JONESBORO        AR        72401

    950 HIGHWAY 62 EAST          MOUNTAIN HOME    AR        72653

    104 N HAMPTON AVENUE         RUSSELLVILLE     AR        72802

    105 NORTH POPLAR             SEARCY           AR        72143

    1985 HIGHWAY 95              BULLHEAD         AZ        86442

    3153 STOCKTON HILL ROAD      KINGMAN          AZ        86401


    940 WILLOW CREEK RD          PRESCOTT         AZ        86301

    3758 EAST FRY BLVD           SIERRA VISTA     AZ        85635

    2820 S 4TH AVENUE            YUMA             AZ        85364

    1811 FREMONT DR UNIT B       CANON CITY       CO        81212

    2401 NORTH AVE               GRAND JUNCTION   CO        81501

    8500 WEST CRESTLINE AVE      LITTLETON        CO        80123

    2201-A SOUTH TOWNSEND ST.    MONTROSE         CO        81401

    10539 OVERLAND ROAD          BOISE            ID        83709

    680 E BOISE AVENUE           BOISE            ID        83706

    7500 FAIRVIEW AVE            BOISE            ID        83704

    101 BEST AVE                 COEUR D ALENE    ID        83814

    540 EAST 17TH ST             IDAHO FALLS      ID        83404

    139 THAIN RD                 LEWISTON         ID        83501

    1769 NORTH LAKES AVENUE      MERIDIAN         ID        83646

    2230 W PULLMAN RD            MOSCOW           ID        83843

    1870 CALDWELL BLVD           NAMPA            ID        83651

    870 BLUE LAKES N BLVD        TWIN FALLS       ID        83301

    4601 NATIONAL ROAD EAST      RICHMOND         IN        47374

    1701 N 14TH                  DODGE CITY       KS        67801

    2108 E KANSAS AVENUE         GARDEN CITY      KS        67846

    3300 VINE                    HAYS             KS        67601

    416 EAST 30TH ST             HUTCHINSON       KS        67502

    1900 W, 23RD                 LAWRENCE         KS        66046

    626 TUTTLE CREEK BLVD        MANHATTAN        KS        66502

    2193 LANTERN RIDGE DR        RICHMOND         KY        40475

    1460 MACARTHUR DRIVE         ALEXANDRIA       LA        71301

    2136 WILLIAM SUITE #165      CAPE GIRARDEAU   MO        63703

    2233 MISSOURI BLVD           JEFFERSON CITY   MO        65109

    1800 N BALTIMORE             KIRKSVILLE       MO        63501

    950 N WESTWOOD BLVD          POPLAR BLUFF     MO        63902

    605 N BELT HIGHWAY           ST. JOSEPH       MO        64506

    723 N CHARLES                WARRENSBURG      MO        64093

    1603 GRAND AVE, UNIT B1      BILLINGS         MT        59102

    1601 W MAIN                  BOZEMAN          MT        59715

    2307 HARRISON AVE            BUTTE            MT        59701

    726 10TH AVE SOUTH           GREAT FALLS      MT        59405

    3215 N MONTANA AVENUE        HELENA           MT        59604

    2501 BROOKS ST STE A         MISSOULA         MT        59801

    1041 EAST 23RD STREET        FREMONT          NE        68025

    2300 N WEBB ROAD             GRAND ISLAND     NE        68803

    5027 2ND AVENUE              KEARNEY          NE        68847

    805 N WHITE SANDS BLVD       ALAMOGORDO       NM        88310

    4315 WYOMING NE              ALBUQUERQUE      NM        87111

    6001-R LOMAS BLVD NE         ALBUQUERQUE      NM        87110

    6051 WINTER HAVEN ROAD       ALBUQUERQUE      NM        87120

    800 JUAN TABO NE             ALBUQUERQUE      NM        87123

    12501 CANDELARIA RD NE       ALBUQUERQUE      NM        87112

    1601 W PIERCE STREET         CARLSBAD         NM        88220

    1925 NORTH PRINCE            CLOVIS           NM        88101

    3050 E 20TH ST               FARMINGTON       NM        87402

    1822 N TURNER                HOBBS            NM        88240

    2350 LOHMAN                  LAS CRUCES       NM        88007

    1630 RIO RANCHO DR           RIO RANCHO       NM        87124

    1705 N MAIN                  ROSWELL          NM        88201

    542 N GUADALUPE              SANTA FE         NM        87501

    1140 LONNIE ABBOTT IND BLVD  ADA              OK        74820

    1700 NORTH MAIN ST           ALTUS            OK        73521

    601 NORTH COMMERCE ST        ARDMORE          OK        73401

    3005 E FRANK PHILLIPS BLVD.  BARTLESVILLE     OK        74006

    610 S CLEVELAND              ENID             OK        73703

    616 NW SHERIDAN ROAD         LAWTON           OK        73505

    2230 E SHAWNEE               MUSKOGEE         OK        74403

    2300 W MAIN                  NORMAN           OK        73069

    2900 N 14TH STREET           PONCA CITY       OK        74601

    316 NORTH MAIN               STILLWATER       OK        74075

    1105 GARTH BROOKS BLVD       YUKON            OK        73099

    1600 FT CAMPBELL BLVD        CLARKSVILLE      TN        37042

    650 HWY 51 BYPASS            DYERSBURG        TN        38024

    501 N FOOTHILLS PLAZA DRIVE  MARYVILLE        TN        37801

    1660 MEMORIAL BLVD           MURFREESBORO     TN        37129

    1905 N JACKSON               TULLAHOMA        TN        37388

    4709 S 14TH                  ABILENE          TX        79605

    2020 S GEORGIA               AMARILLO         TX        79109

    4301 SW 45TH                 AMARILLO         TX        79109

    5512 GEM LAKE ROAD           AMARILLO         TX        79102

    N 600 CENTER AVENUE          BROWNWOOD        TX        76801

    725 VILLA MARIA              BRYAN            TX        77801

    1306 W DAVIS STREET          CONROE           TX        77304

    5101 WESLEY ST               GREENVILLE       TX        75401

    501 MAIN STREET              KERRVILLE        TX        78028

    1500 LOWES BLVD              KILLEEN          TX        76542

    208 W HWY 332                LAKE JACKSON     TX        77566

    405 NW LOOP 281              LONGVIEW         TX        75604

    3249 50TH STREET             LUBBOCK          TX        79413

    8209 SLIDE ROAD              LUBBOCK          TX        79424

    3111 W CUTHBERT              MIDLAND          TX        79701

    2306 S JEFFERSON AVENUE      MOUNT PLEASANT   TX        75455

    4501 NORTH STREET            NACOGDOCHES      TX        75961

    651 BUSINESS LOOP IH-35      NEW BRAUNFELS    TX        78130

    3897 E 42ND STREET           ODESSA           TX        79762

    4238 SUNSET DRIVE            SAN ANGELO       TX        76904

    917 S HIGHWAY 80             SAN MARCOS       TX        78666

    1380 E COURT ST              SEGUIN           TX        78155

    2114 TEXOMA PARKWAY          SHERMAN          TX        75090

    2900 W WASHINGTON            STEPHENVILLE     TX        76401

    4015 A SOUTH BROADWAY        TYLER            TX        75701

    5206 N NAVARRO               VICTORIA         TX        77901

    5526 BOSQUE BLVD             WACO             TX        76710

    791 NORTH HIGHWAY 77         WAXAHACHIE       TX        75165

    2801 SW PARKWAY              WICHITA FALLS    TX        76308

    340 E 525 N                  HARRISVILLE      UT        84404

    E 50 400 N                   LOGAN            UT        84321

    601 SOUTH PIONEER WAY        MOSES LAKE       WA        98837

    1425 GEORGE WASHINGTON WAY   RICHLAND         WA        99354

    1704 WEST WELLESLEY          SPOKANE          WA        99205

    2512 E 29TH ST               SPOKANE          WA        99223

    E 15312 SPRAGUE AVENUE       VERADALE         WA        99037

    315 NINTH STREET             WENATCHEE        WA        98801

    2610 S DOUGLAS HWY, STE 300  GILLETTE         WY        82718

    654 NORTH 3RD ST             LARAMIE          WY        82901

    1451 DEWAR DRIVE             ROCK SPRINGS     WY        82901

About Hilco Merchant Resources, LLC
Hilco Merchant Resources (www.hilcomerchantresources.com) provides a wide range of analytical, advisory, asset monetization, and capital investment services to help define and execute a retailer's strategic initiatives. Hilco Merchant Resources' activities fall into several principal categories including acquisitions; disposition of underperforming stores; retail company or division wind downs; event sales to convert unwanted assets into working capital; facilitation of mergers and acquisitions; interim company, division or store management teams; loss prevention; and, the monetization of furniture, fixtures and equipment. Additionally, HMR now includes among its subsidiaries the nation's premier fixture and equipment liquidation firm, Hilco Fixture Finders (www.hilcofixturefinders.com), as well as the popular online retail and daily deal e-commerce company, Deal Genius, LLC (www.dealgenius.com).

Hilco Merchant Resources is part of Northbrook, Illinois based Hilco Global, one of the world's leading authorities on maximizing the value of business assets by delivering valuation, monetization and advisory solutions to an international marketplace. Hilco Global operates twenty specialized business units offering services that include asset appraisal, retail and industrial inventory acquisition and disposition, real estate repositioning and renegotiation, strategic advisory and operational consulting and strategic capital equity investments. For more information please visit: (www.hilcoglobal.com).

About Gordon Brothers Group
Founded in 1903, Gordon Brothers Group (www.gordonbrothers.com) is a global advisory, restructuring and investment firm specializing in the retail, consumer products, industrial, and real estate sectors. Gordon Brothers Group maximizes value for both healthy and distressed companies by purchasing or selling all categories of assets, mitigating leases, appraising assets and operating businesses for extended periods. Gordon Brothers Group conducts over $50 billion worth of transactions and appraisals annually. As of November 2014, debt financing is provided by Gordon Brothers Finance Company (www.gbfinco.com).

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/going-out-of-business-sales-to-begin-at-all-hastings-entertainment-stores-300302816.html

SOURCE Gordon Brothers Group

© PRNewswire 2016
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