Hobbs store to close by Oct. 31
A Hobbs staple for DVDs, books, records and more on North Turner Street will close along with 125 other locations nationwide due to Hastings Entertainment’s nationwide liquidation.
The Amarillo Globe-News reported Thursday the Amarillo-based retail company must liquidate all of its stores by October 31 after being sold to two consultation and management companies. The company announced last month it was trying to find a buyer due to “financial challenges.” The locations are closing on a “store-by-store” basis with seven-day notice required for employees.
In a statement disseminated Thursday, Hastings said it filed for Chapter 11 bankruptcy five weeks ago and that all stores, e-Commerce business and corporate offices will close. The bankruptcy court is expected to approve the agreement today, which was reached on Wednesday.
“We thank our customers and employees for their loyalty over the years, and we hope to see our customers at store closing sales,” the statement read.
Hobbs Mayor Sam Cobb said his first concern about the impending closure was for the employees at the store, located at 1822 N. Turner.
“I’ve had discussions with the (city) commission and EDC (economic development corporation) about the importance of retail trade in the community,” he said. “So, we’re going to be working on some retail trade incentives and some other things to try to encourage some retail trade.”
Cobb said “some folks” are interested in coming to the community and hopes someone will be found to take that location and generate jobs and gross receipts. He also noted Hastings has been a popular destination in Hobbs for a “lot of people for a long time.”
According to gohastings.com, patrons with gift cards to redeem or items to take back are out of luck. Effective last week, the company is no longer honoring refunds, gift cards, credits on accounts or exchanges. Those interested in filing a claim can do so at www.omnimgt.com/hastings.
The News-Sun was unable to get comment Thursday from the Hobbs location about the business’ closure plans.
Kelly Farrell can be reached at 391-5437 or by email.