More than 120 Hastings Entertainment stores are set to begin going-out-of-business sales this weekend after a pair of liquidators won court approval to buy its assets.
The joint venture between Hilco Merchant Resources LLC and Gordon Brothers Retail Partners received approval on Thursday from a judge in the U.S. Bankruptcy Court in Wilmington, Del.
The liquidation sales will begin on Saturday, according to Gordon Brothers and Hilco.
The two liquidators had set the floor for the auction with a stalking horse, or lead, bid received last week. Hilco and Gordon Brothers will pay Hastings 75% of the cost of inventory worth at le…
Read the full article at: http://www.wsj.com/articles/hastings-entertainment-to-begin-liquidation-of-stores-1469204836