Tuesday, March 7, 2017

HHGregg files for Chapter 11, lines up buyer

HHGregg filed for Chapter 11 bankruptcy protection on Monday in the U.S. Bankruptcy Court for the Southern District of Indiana.

The electronics retailer has signed a term sheet with an anonymous party to purchase its assets, which will allow the company to exit the bankruptcy process debt-free.

Closure of 88 HHGregg stores (representing some 40% of its fleet) will continue as planned, and its remaining 132 stores will continue to operate as usual.. . . more

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