hhgregg To Liquidate Assets
The latest brick-and-mortar retail casualty, hhgregg has announced that the United States Bankruptcy Court for the Southern District of Indiana approved initiation of a liquidation process that began on April 8.
The latest brick-and-mortar retail casualty, hhgregg has announced that the United States Bankruptcy Court for the Southern District of Indiana approved initiation of a liquidation process that began on April 8.
Stage Stores is acquiring select assets of Gordmans Stores through a bankruptcy auction.
Just weeks after announcing it was filing for Chapter 11 bankruptcy protection and that it had a potential buyer, hhgregg has terminated its previously announced nonbinding term sheet with the anonymous party to purchase substantially all of the assets of the company.
Gordmans Stores has filed a voluntary petition for Chapter 11 bankruptcy protection in United States Bankruptcy Court in Nebraska.
After a series of setbacks, including poor holiday sales and delisting by the New York Stock Exchange, hhgregg has filed Chapter 11 bankruptcy protection and announced that it has found a buyer for the 132-store business that would emerge from the legal process.
As Sears Holdings continues working to overcome slumping sales at its Sears and Kmart stores, the company is facing the possibility of a bankruptcy filing within one to two years, TheStreet.com has reported, citing information from Fitch Ratings.
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