Roughly 20 people could lose their jobs once the Hastings store in Altus completes a final bankruptcy liquidation and closing expected to be approved today.
But Thursday, a local store employee in Altus was not permitted to talk about the situation, “we cannot comment on our store’s position.”
A company headquarters spokesperson provided a press release that highlighted the corporation’s efforts.
“Five weeks ago Hastings filed for Chapter 11 protection with the goal of expediting our search for a buyer that would help us complete our re-merchandising strategy and position our business for long-term success,” said Peyton Burgess with FTI Consulting. “At the completion of the sale process yesterday, the winning buyer was a joint venture that will instead oversee a liquidation of our stores to ensure we are maximizing the value of all of our remaining merchandise and assets as we prepare to close. We thank our customers and employees for their loyalty over the years and we hope to see our customers at store closing sales.”
According to Burgess, all Hastings stores, e-Commerce business and corporate office will all discontinue operations at the end of this process.
Today the bankruptcy court is expected to approve the agreement with the companies who will oversee the store closing sales, Hilco Merchant Resources LLC and Gordon Brothers Retail Partners LLC, Burgess said.
Reach Mary O. Esparza at 580-482-1221, ext. 2077.