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Published on 3/2/2020 in the Prospect News Distressed Debt Daily.

Three hhgregg debtors post operating results for month ended Jan. 31

By Caroline Salls

Pittsburgh, March 2 – hhgregg, Inc. reported zero operating income, net sales and net income for January, the same as in December, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the Southern District of Indiana.

In addition, the company had no cash in January or December.

The Gregg Appliances Inc. debtor saw a $157,000 operating loss for January on zero net sales. The operating loss for December was $359,000, also on zero net sales.

Gregg Appliances posted a $1.08 million net loss for January, declining from $3.38 million of December net income.

Also, Gregg Appliances listed $5.02 million of cash as of Jan. 31, up from $4.79 million at the end of December.

Meanwhile, the HHG Distributing LLC debtor also showed no operating income, net income, sales or cash for January December or December.

hhgregg is an Indianapolis-based specialty retailer of consumer electronics and home appliances. The company filed for bankruptcy on March 6, 2017 under Chapter 11 case number 17-01302.


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