San Angelo Hastings Expected to Close

The local Hastings in San Angelo has been going thorough a liquidizing process with the stores merchandise. Previously, officials from the store that has been a part of the community for some time, announced bankruptcy proceedings and threat of closure (read more here).

That threat is now a reality.

According to statement provided by Hastings, ”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, 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." 

The renting options for both video games and movies have stopped since Hastings filed for bankruptcy. 

"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," the statement read. "We thank our customers and employees for their loyalty over the years, and we hope to see our customers at store closing sales." 

No additional information is available for individual stores at this time.