Hastings Bankruptcy: ID Store’s Future Uncertain
Can Idaho Hasting's stores be gone by next month?
Jim Litwak, Hastings President and Chief Operating Officer announced Monday that in an effort "to fully execute our plan for the future" the company needs more financial support and has voluntary filed for Chapter 11 Bankruptcy.
What does that mean for the 10 Idaho locations? Well, for the next 30 days, business will operate as normal (with the exception of a few programs) while they look for potential buyers of the company's 126 stores around the country.
* Hastings will no longer accept nor honor customer deposits for future movie purchases. Instead, existing deposits may be applied towards additional purchases in the store.
* Game rentals will no longer be available.
* Gift cards will expire on July 13, 30 days from today's announcement.
* Hastings' buyback program has been suspended.