Hilco Streambank’s Role
Hastings Entertainment retained Hilco Streambank to market and sell its intellectual property assets including its store banners Hastings®, MovieStop®, and Tradesmart®, trademarks, domain names, ecommerce website, and sizeable customer database and loyalty program data, while operating as a chapter 11 debtor in the Delaware bankruptcy court.
Hastings Entertainment, founded in 1968, expanded its offerings over the years through various acquisitions in the entertainment media space, to include MovieStop and Tradesmart. The brand was a leading multimedia entertainment and lifestyle retailer whose offerings included movies, video games and consoles, software, consumer electronics, comic books, collectible trading cards, and related accessories. In 2015, the company operated 168 stores across 29 states and an e-commerce platform, generating an aggregate of more than $400 million in revenue.
Hilco Streambank Closed the Deal
Hilco Streambank identified more than a dozen strategic parties with interest in the assets, leading to an auction with 11 qualified bidders. Our team identified two parties with unique interests whose bids could be paired together, generating additional value for the estate and additional bids from the ultimate successful bidder, Calendar Holdings (Calendars.com), who purchased the assets for $300,000.