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hhgregg Bankruptcy Bid Procedures Approval Sought

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hhgregg filed with the U.S. Bankruptcy Court a motion for entry of an order (i) authorizing the sale of certain intellectual property free and clear of liens, claims, encumbrances and other interests and (ii) granting related relief.

The motion explains, “In connection with their retail operations, the Debtors have developed and utilized the Intellectual Property, which consists of trademarks, domain names, customer files, and related data, including, among other things, the digital assets associated with the e-commerce website operated by the Debtors…The Debtors have determined that in order to maximize value, the Debtors need to sell their Intellectual Property and such Sale needs to occur on an expedited timeline.” The deadline to submit qualified competing bids is June 22, 2017 and an auction, if necessary, would be conducted on June 26, 2017 with a June 27, 2017 sale hearing to follow.

Read more retail bankruptcy news.

The post hhgregg Bankruptcy Bid Procedures Approval Sought appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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