In its Chapter 11 filing, hhgregg indicated that it has lined up an unnamed stalking horse bidder that appears “committed” to buying the ailing CE and appliance chain out of bankruptcy. Nonetheless, the retailer said it is also open to competing offers. Interested parties have until April 21 to enter their bids.
“HHGregg Inc. said earlier this week that it has lined up a buyer. But a bankruptcy filing late Thursday reveals that other potential suitors will have the opportunity to submit competing offers by April 21. The Indianapolis-based appliance and electronics retailer on Monday filed for Chapter 11 bankruptcy and followed up late Thursday evening with a timeline for its sale.”