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hhgregg Bankruptcy Objection Filed

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Midland Southpoint Development Company filed with the U.S. Bankruptcy Court an objection to hhgregg’s motion for interim and final orders (i) authorizing the Debtors to assume a consulting agreement, (ii) authorizing and approving the conduct of store closing sales free and clear of all liens, claims and encumbrances and (iii) granting related relief.

The objection argues, “The Motion seeks, among other relief, an order approving procedures for the sale of the rights to enter into an Agency Agreement under which a liquidator would conduct GOB sales in the stores of Debtors, including the Midland Premises. It further seeks to establish sale procedure for GOB sales (the ‘Sale Guidelines’). However, the Sale Guidelines fail to adequately protect the interest of Landlord and other tenants in the Midland Center.”

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