One month after filing for Chapter 11 bankruptcy, once go-to retailer for books, video games and toys Hastings will shut its doors.
According to court papers filed July 20, the company's stores will close nationwide by the end of October.
Hastings has five locations in the Treasure Valley: three in Boise, another in Meridian and a fourth in Nampa, with additional stores in the Magic Valley, eastern, central and northern Idaho.
Company officials announced in June they would no longer be accepting or honoring gift cards beyond July 13, game rentals had been halted and the stores would suspend buyback programs.
Now, Billboard is reporting all Hastings outlets would be liquidated by Oct. 31 at the latest. The industry trade magazine reports Hastings has about $140 million in inventory, with approximately $70 million owed to secured creditors and another $50 million owed to unsecured creditors including some major movie studios. Billboard reports that at the end of liquidation, unsecured creditors may end up receiving about 50-cents on the dollar.