Hastings Entertainment wins OK of store-closing sales, bid procedures

By Caroline Salls

Pittsburgh, July 6 – Hastings Entertainment, Inc. received final court approval to continue the store-closing sales being conducted by Gordon Brothers Retail Partners, LLC under an agreement with MovieStop, LLC, according to an order filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.

As previously reported, the store-closing sales began on May 14 and are expected to end on July 31.

In addition, Hastings received court approval of the bid procedures for the proposed sale of its business.

Bids are due by 4 p.m. ET on July 18. An auction will be held on July 20, if necessary, and the sale hearing is scheduled for July 22.

Amarillo, Texas-based Hastings Entertainment is a multimedia entertainment retailer. The company filed bankruptcy on June 13 under Chapter 11 case number 16-11452.

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