On Heels of Bankruptcy Filing, hhgregg to Liquidate Assets

INDIANAPOLIS — Appliance, electronics and furniture retailer hhgregg Inc. is liquidating its assets. The United States Bankruptcy Court for the Southern District of Indiana approved the initiation of the liquidation process, which began April 8. As previously announced, Tiger Capital Group LLC and Great American Group LLC will conduct a sale of the merchandise and equipment located at the company’s retail stores and distribution centers. Headquartered in Indianapolis, hhgregg was unable to secure a buyer within the expedited timeline set by creditors after previously filing for Chapter 11 bankruptcy on March 6. The company expects to close all 220 stores by the end of May, resulting in about 5,000 layoffs across the country, according to The Indianapolis Star, the local newspaper. hhgregg has not disclosed a complete list of stores, but click here to see the previously announced store closings listed as part of the bankruptcy filing. Approximately 60 hhgregg stores are located in the Midwest.