Draw Another Circle's Ch. 11 Liquidation Plan Confirmed

Law360, Wilmington (February 14, 2017, 7:32 PM EST) -- Hastings Entertainment parent Draw Another Circle LLC succumbed to the digital and internet age Tuesday, with a Delaware bankruptcy judge confirming the Texas-based movie, book, memorabilia and game rental company's Chapter 11 liquidation plan.

DAC attorney Christopher M. Samis of Whiteford Taylor & Preston LLC said the uncontested plan had received overwhelming approval, with remnants of the company and any retained claims due to be handed over to a liquidating trustee.

The company sought protection from creditors in June, blaming a declining market for physical media — such as music and movie discs, books, games and media rentals — and rising competition...

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