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hhgregg Bankruptcy Objections Filed

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Multiple parties – including Electrolux North America, the U.S. Trustee assigned to the hhgregg case, Throgmartin 96th Street, WGTV,  Scatterfield Station, Lloyd Crossing Shopping Center, Forest City Realty Trust, Rouse Properties, ShopCore Properties, Berkshire-Ocala, Cumberland Crossing, Mullin Properties, SGO Osceola Village, Devonshire REIT, ARC ASANDSC001, Brixmor Property Group, GGP Limited Partnership, HCP III Golden Gate and Starwood Retail Partners – filed with the U.S. Bankruptcy Court separate objections to hhgreggs’ motion for an order authorizing the Debtors to enter into a consulting agreement approving the conduct of Phase II store closing sales.

Electrolux Home Products asserts, “The relief requested in the Phase II GOB Motion must be denied to the extent they attempt to sell or grant a security interest in or lien on the Electrolux Consignment Inventory without Electrolux’s consent. The Debtors hold no right, title, or interest in the Electrolux Consignment Inventory and the Debtors must cease all sales and return the Electrolux Consignment Inventory. The Phase II GOB Motion must be denied to the extent it seeks to sell property not determined to be property of the Debtors’ estates. The Motion contemplates immediately eliminating Electrolux’s rights in the Electrolux Consignment Inventory through ‘going out of business’ sales at depressed values that will harm its brand, all without Electrolux’s consent. In fact, the Debtors prepetition and postpetition have sold and continue to sell the Electrolux Consignment Inventory without complying with the Electrolux Consignment Agreement, including not paying Electrolux.”

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