Friday, March 17, 2017

HHGregg's deal with proposed buyer falls apart

rop-hhgregg-optional-jump-012317-450-bp.jpgHHGregg Inc. disclosed late Thursday that its proposed purchase by an anonymous buyer has fallen through and that it now is considering the sale of some or all the business to other possible suitors.

The struggling company, which filed for Chapter 11 reorganization March 6, said at that time that it had reached an agreement to sell the business to an undisclosed party. The buyer was supposed to help HHGregg experience a "quick and smooth process through Chapter 11 with emergence in approximately 60 days.". . . more

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