hhgregg wins approval of $400,000 sale of intellectual property assets

By Caroline Salls

Pittsburgh, June 30 – hhgregg, Inc. obtained court approval to sell its intellectual property assets to Valor, LLC for $400,000, according to an order filed Friday with the U.S. Bankruptcy Court for the Southern District of Indiana.

hhgregg said its intellectual property assets consist of trademarks, domain names, customer files and related data, including the digital assets associated with the e-commerce website operated by the company at www.hhgregg.com.

The next highest bid at the auction came from Sears Holdings, with an offer of $350,000.

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

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