Entertainment retailer Hastings Entertainment filed for bankruptcy protection in a Delaware court on Monday, blaming pretty much everything, from the growth of online shopping to “a decline in the market for physical media properties like music, movies, books, games and media rentals.” There is no buyer lined up for now, and the company says it only has enough cash to operate through mid-July, and will have to liquidate if a buyer is not found within 30 days. The unsecured creditors who are owed about $59 million trade payables are facing grim prospects, since they stand behind $80 million in secured […]
