Draw Another Circle, the parent company of Texas-based Hastings Entertainment, has filed for Chapter 11 bankruptcy protection, with hopes of finding a buyer for its Hastings superstores.
In court filings in Delaware, Hastings CFO Duane A. Huesers cited both the “tremendous growth” of online retailers and the “decline in the market for physical media properties like music, movies, books, games and media rentals” for the chain’s troubles. The company operates 123 stores in 19 states, according to court filings.. . . more