Heritage Home seeks approval of $4 million sale of headquarters

By Caroline Salls

Pittsburgh, Nov. 26 – Heritage Home Group LLC requested court approval for HHG Real Property LLC’s $4 million private sale of its High Point, N.C., headquarters to Medical Realty Advisors, LLC, according to a motion filed Nov. 21 with the U.S. Bankruptcy Court for the District of Delaware.

Heritage Home said it did not receive any bids for the headquarters property as part of the auction for its non-luxury-group assets, so it was not included in that sale.

“There is more than ample business justification to sell the property through a private sale to the purchaser, rather than conducting a formal (and second) auction process,” the motion said.

“The debtors submit that the NLG sale process provided an open and fair opportunity for all potential purchasers to submit bids for the property and confirmed that the market for the property is limited.”

A hearing is scheduled for Dec. 12.

High Point, N.C.-based Heritage Home Group is a home furnishings manufacturer and retailer. The company filed bankruptcy on July 29 under Chapter 11 case number 18-11736.

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