hhgregg approved to move forward with phase two of store-closing sales

By Caroline Salls

Pittsburgh, April 7 – hhgregg, Inc. received court approval to hold phase two of its store-closing sales, according to an order filed Friday with the U.S. Bankruptcy Court for the Southern District of Indiana.

A contractual joint venture comprised of Tiger Capital Group, LLC and Great American Group, LLC will conduct the sales.

The joint venture will receive a fee of 1.25% of the gross proceeds of the merchandise sold.

The sales will end no later than May 31.

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

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