Reports are surfacing that Hastings has filed for Chapter 11 bankruptcy.
Hastings is a major retailer for Funko and has even participated in selling store exclusives.
Various reports are stating that Hastings currently owes about $1,500,000 to Diamond, the comics distributor.
Of more relevance are reports that Hastings owes Funko about $2,500,000.
Haha, wow. Maybe they’ll have some sales on Pops soon I guess.
I was at my local Hastings on Wednesday and the had all Pops buy 1 get 1 50% off
this really sucks this is where i get most of my pops and comics.
Me too. If they go under, the going out of business sell will have flippers and scalpers taking all they can. sucks big time
This may also suck, that could affect Funko revenue and could drive price of future products up. Business economics, if they don’t achieve certain profit margins. Then price is driven up to accommodate any loss of previous quarter.
Lol I highly doubt one store is going to make an impact considering how many other retailers they have selling pops n mystery minies amongst other funko products…
I just want to know how anybody can get in debt with a company like funko being that youd think that everybody would have to pay up front whether retailer or wholesaler … Kind of mind boggling. If funko is going to spot people that much merchandise up front than I think I need to get on that funko wholesaler bandwagon.
count me in as well!
Smaller companies do have to pay up front. Not sure about the Big Boys. And they have a 3 Strike and your done if you don’t pay.
Was wondering why the Hastings owned Movie Stops were closing, Diamond and Funko are stupid to put out that much product to them on credit and not see a dime.
The bigger they are, the harder the fall!
Larger operating costs, larger loans, larger capital needed, larger investment risks, mix all that with slightly bad directing and it’s easier to fail than a small company.
HAHAHAHA that’s what happens when your a con artist i hated this company for years. Their prices were ridiculous for used stuff and not only that they bought out this company called Moviestop and they sold new and used dvd’s and a bunch of collectables and now that this is happening means that all those Moviestop stores which there aren’t many are all closing and any other companies they may have bought out. They literally took a used blu-ray that was a $1.99 and jacked it up to $8.99 right then and there i knew they were gonna sink like i said con-artist.
no wonder why my Moviestop is closing down.
damn kinda wish i had a hastings in my area at the moment