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