Hilco Streambank was hired, subject to bankruptcy court approval, to assist Draw Another Circle dba Hastings Entertainment/a> in the sale of its intellectual property assets.

The assets include all IP associated with the Hastings, MovieStop and Tradesmart brands. The sale is being conducted in conjunction with Section 363 of the Bankruptcy Code in the Draw Another Circle Chapter 11 case pending in the U.S. Bankruptcy Court for the District of Delaware. Parties interested in acquiring the IP assets have been asked to submit bids on or before Thursday, September 15, 2016 at 5 p.m., ET.

“The Hastings brand has strong recognition by consumers in the new and used multimedia market throughout the Southern, Midwest, Northwest and Northeast U.S.” said Hilco Streambank CEO Gabe Fried. “Over the last 50 years, the company has established itself as a leading multimedia entertainment and lifestyle retailer. By acquiring the MovieStop brand from GameStop in 2014, Hastings Entertainment was able to provide its loyal customer base of over 15 million with unmatched variety and quality in their movie product lines.”