Monday, April 3, 2017

HHGregg to begin liquidation if no buyer emerges by week's end

Bankrupt electronics retailer HHGregg will proceed with liquidation of its business if it doesn’t attract a buyer within the week, according to a March 29 filing with the Securities and Exchange Commission.

HHGregg seemed to have a plan to exit bankruptcy (for which it filed in early March) with renewed chances and little debt. But an agreement with an unnamed bidder (thought to be its own ad agency) fell through later last month when another vendor, Haier US Appliance Solutions, objected to dedicating $6 million of the $8 million being set aside to pay creditors.. . . more

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