Hastings Music/Movie store chain filing for bankruptcy

I know there are quite a few of us here who either shop at a Hastings store or (like me) frequently order cheap stuff from their GoHastings web site. Sounds like we'd better enjoy them while we can....

http://www.bloomberg.com/news/articles/2016-06-08/hastings-entertainment-chain-said-to-prepare-bankruptcy-filing

Quote :

Hastings Entertainment Inc., a Texas-based retailer of music, books and video games, is preparing a bankruptcy filing, according to people familiar with the matter.

The filing is expected to come this month and possibly as soon as this week, said the people, who asked not to be identified because the process isn’t yet public.

The rise of digital-media providers such as Amazon.com Inc. and Spotify Ltd. have disrupted the market for records and books -- a trend that pushed chains like Blockbuster, Borders Group and Tower Records out of business.

Hastings, founded in 1968, became a private company when Joel Weinshanker’s Draw Another Circle LLC acquired it almost two years ago. It operates about 125 stores.

Not exactly unexpected news but still a bummer. I've ordered a butt load of CDs from their web site since I first discovered it (thanks to this forum!) five or six years ago. I will be sorry to see'em go.

when I lived in TN I LOVED and I mean LOVED Hastings

Bankruptcy is not a good thing, but it doesn't necessarily mean the end.

There's no maybe to it. I have a friend in Arkansas who visited her local Hastings Saturday and an employee told her the chain has already filed.

I took a quick look @ GoHastings.com this afternoon and things still appear to be operating as usual there (i.e. there are no "GOING OUT OF BUSINESS SALE" or "FAREWELL!" banners...at least, not yet)... but there is a note on the site that sez Hastings gift cards will only be honored thru July 13th.

Since things still seem to be business-as-usual on the GoHastings site, I placed what will likely be my last-ever order with them last night. I didn't order anything mind blowingly rare or hard to find, just some used, cheap common stuff like always. Figured I might as well use them to fill in a few more back-catalog gaps while I still can....

Its official..they are closing the stores in the next few months..They will begin their liquidation sale soon and will only take gift cards till July 17th..My kids live in Amarillo, where The headquarters is, and they told me one store there is already closed and that the guys in the distribution center are all looking for new jobs...Another big brick and mortar store going down (they claim amazon killed them)..I have shopped their stores for years..I bought classics by bands like Boston, AC/DC, Van Halen and Styx at hastings on release date..I bought my first 8tracks at hastings back in the 70s... They were my 80s metal store...so sad to me..alot of great memory's..

^^ Your experience with Hastings sounds exactly like mine with Tower Records.

...GOD, I miss Tower Records!!!  

...anywhoo, I got an e-mail yesterday from Go-Hastings, saying that five of the eight CDs from the final batch I ordered have already shipped... so far so good. No word on the other three yet but it's not unusual for there to be a day or two between shipping updates.

I have now gotten "shipped" confirmation e-mails for all eight of the CDs I ordered from GoHastings last week...nothin' to do now but wait for 'em to arrive. Hail and Farewell, GoHastings.

All eight of the CDs I ordered from GoHastings last week have now arrived, so I guess that wraps it up for me.

I'm told that as of July 13th, their stores are no longer accepting gift cards, nor are they buying used merch, doing exchanges or taking returns.

So in other words, if you buy anything from them now, it's a one-way street and if you aren't satisfied, you're outta luck buddy...

Hail and farewell, Hastings. (sniff, sob)

...ehhh, I couldn't help myself, I ordered four more used cheapies from GoHastings the other night. (I'm sure the fact that I had several beers in me at the time helped.) ... just got an e-mail that three of them have already shipped.

This will DEFINITELY be my last ever order from them tho, cuz my PayPal account is now full of dust bunnies and tumbleweeds. By the time I get another cash infusion in there, GoHastings will likely be done.

It's official, the Hastings chain is toast. All stores will be closed by the end of October. Fare thee well!

http://kissfm969.com/hastings-closing-liquidated/

yeah! So sad..this ran on our news in Tulsa today...
http://www.newson6.com/story/32506787/hastings-to-close-stores-including-11-in-oklahoma-by-october-31st

I am only 40 miles from 2 of these stores so I might make a road trip to check it out..

(begin shameless plug)

I wrote a quickie blog about the demise of Hastings. Is it weird that I am mourning the closing of a store chain, even though I've never actually set foot in one of their stores?

http://hubpages.com/entertainment/Farewell-to-Hastings-Entertainment-Superstores

(end shameless plug)

Fat Freddy wrote:

(begin shameless plug)

I wrote a quickie blog about the demise of Hastings. Is it weird that I am mourning the closing of a store chain, even though I've never actually set foot in one of their stores?

http://hubpages.com/entertainment/Farewell-to-Hastings-Entertainment-Superstores

(end shameless plug)

Well written entertaining article FF, nice job as usual!!

^^ thanx d00d!

I've gotten so many great and sometimes down right insane deals on media through GoHastings.com. There really isn't an equivalent when it comes to used media online. Sad.

Shame the online store is gone already. I just placed an order last week or so, got six CDs for $8.54. If I'd known the online store was gonna close, I'd have spent more time scouring their lists. =(

Eyesore wrote:

Shame the online store is gone already. I just placed an order last week or so, got six CDs for $8.54. If I'd known the online store was gonna close, I'd have spent more time scouring their lists. =(

I got the last CD from my most recent Go-H order in the mail this past Wednesday, the 20th...they announced their liquidation the next day (Thursday the 21st).

Timing is everything!

Yeah, I placed my order on the 10th and everything trickled in after. Got some cheap stuff, too. I even saw that they'd put a 40% off coupon code on the site for certain items, so I tried it and got the discount on three CDs! $2.51 was the most I paid, and $0.75 was the cheapest.

Gonna miss that place. =(

I've never set foot in an actual store, but I've purchased my fair share of music from them, either directly through their website or via ebay.

Sad to see them go, but it's just a sign of the times I suppose.

here are a few things you guys might not know about Hastings...
they were a huge video retailer and a video rental store....
they were a huge bookseller
1/3 of each store was books 1/3 was video 1/3 was music and video games
they had huge magazine departments including import mags like metal hammer, kerrang
They had a huge section for adult video, mags, etc.
They were a huge graphic novel dealer
They stocked tons of memorabilia, posters, statues, and gift shop items
The larger stores had cafe's with free internet
IN most towns they are in they were the only store of their kind..so by losing them alot of towns no longer have a store that sells music, video, books, etc..or rents movies (keep in mind alot of smaller towns have horrible cable tv and internet so a store like Hastings was a big deal..

Quote :

They were a huge graphic novel dealer

Yep, I just read that Hastings' bankruptcy is now threatening the survival of the Diamond Distribution company, which supplies comic books to comic shops/newsstands and other retailers. Hastings was their biggest customer and they're in the hole with Diamond for several million bucks. Ouch.

Funny how they claim Amazon killed them, despite the fact they were a third-party seller on Amazon, I bought quite a few CDs, games and movies through them on Amazon.

Still I feel for those who've been fans for a long time, I remember how sad I was when Hollywood Video and Blockbuster went out of business.

On the bright side, Circuit City is coming back.

Fat Freddy wrote:

Quote :

They were a huge graphic novel dealer

Yep, I just read that Hastings' bankruptcy is now threatening the survival of the Diamond Distribution company, which supplies comic books to comic shops/newsstands and other retailers. Hastings was their biggest customer and they're in the hole with Diamond for several million bucks. Ouch.

Wow. I had no idea about that, FF. My best friend ran a comic store for about a decade and a half so I am quite familiar with Diamond. Crazy.