How many locations does Hastings Entertainment have?
How many locations does Hastings Entertainment have?
Hastings Entertainment was an American retail chain that sold books, movies, music, and video games and functioned as a video rental shop. As of 2016 it had 126 superstores, which were mainly located in the South Central United States, Rocky Mountain States, and in parts of the Great Plains and Midwestern states.
What happened to Hastings comic books?
However, declining sales finally forced the company to shift its primary focus to collectibles and comic books in the 2010s. Through the early to mid 2010s, Hastings became the largest comic book retailer in the United States.
Is MovieStop owned by Hastings Entertainment?
In November 2014, Draw Another Circle—the parent company of Hastings Entertainment—purchased MovieStop, a 44-store regional chain in the southeastern U.S. that sold primarily used movies and related entertainment merchandise. In June 2016, Hastings Entertainment filed for bankruptcy protection.
Can draw another circle save Hastings Entertainment?
In an effort to save the company, Draw Another Circle named Jim Litwak the President and CEO of Hastings in December 2015. Litwak had previously salvaged Macy’s and Trans World Entertainment from near-bankruptcy in the 1990s and early 2000s, respectively,. However, this strategy did not save Hastings Entertainment either.
What happened to the company Hastings?
Amidst ongoing rebranding, the company was sold to merchandising firm Draw Another Circle LLC in 2014 for $21.4 million. Hastings suffered under Draw’s management, plunging the company $140 million into debt. In an effort to save the company, Draw Another Circle named Jim Litwak the President and CEO of Hastings in December 2015.
How much did Hastings pay to settle the lawsuit?
Hastings paid $5.75 million for settlement. Despite the closure of other video rental stores such as Blockbuster and Hollywood video, Hastings initially thrived in the early 2010s due to a diversification of merchandise.
