A 'Hasty' retreat?

By: Dwayne Wilder
The Battle of Hastings The Sherman location of Hastings Entertainment, a book, movie and music store, is caught up in the Chapter 11 filing of its corporate parent. Employees know about as much as the public when it comes to their employer's fate. Management toes the company line in saying that the business is simply reorganizing and will 'be in business for a long time.' Employees don't have ready answers and admit to being in the dark; they are waiting until the end of the month to see with the rest of us. According to the Chapter 11 filing, the company has until the end of July to complete a sale to a third party. There is an auction set for July 20, which only gives about 10 days to finish a possible sale. Hastings Entertainment Corporation went this route two years ago successfully, but that buyer has since run out of ways to handle the competition from the new market evolution of Amazon and Netflix. The local store has made a few pronouncements which lend one to believe that major change is on the horizon. They have 'temporarily suspended refunds and exchanges.' They have stopped all movie rentals as of Thursday and their gift cards expired on Wednesday. Shipments are late and other changes are posted on the door as well. Another sign notes an inventory on Saturday, July 16, for which the store will be closed. It will reopen on Sunday, but why do such a big inventory if you are not getting ready to do something 'big?' Only time will tell; about two weeks worth.


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