hhgregg, Samsung Electronics America $9.24 million settlement approved

By Caroline Salls

Pittsburgh, July 27 – hhgregg, Inc. received court approval of a settlement under which Samsung Electronics America, Inc. will pay $9.24 million to the company in connection with agreements and recalled/returned product credits, according to an order filed Thursday with the U.S. Bankruptcy Court for the Southern District of Indiana.

hhgregg said the Gregg Appliances, Inc. debtor acts as a dealer of products for Samsung, and the latter provides promotional support and other allowances conditioned upon net sales.

The debtors claim that the credits in question are owed to Gregg Appliances under the Samsung agreements and in connection with the product credits.

The settlement also calls for mutual releases between the parties.

hhgregg is an Indianapolis-based specialty retailer of consumer electronics and home appliances. The company filed bankruptcy on March 6 in the U.S. Bankruptcy Court for the Southern District of Indiana under Chapter 11 case number 17-01302.

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