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hhgregg Bankruptcy KEIP Approval Sought

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hhgregg filed with the U.S. Bankruptcy Court a motion for an order approving key employee incentive program (KEIP).

The motion explains, “The KEIP is designed to incentivize three members of the Debtors’ executive management who are expected to remain with the Debtors during their wind-down (the ‘KEIP Participants’) to achieve difficult benchmarks that will maximize creditor value in connection with the Store Closing Sales and promote monetization of additional assets and control of expenses to be incurred during the Debtors’ wind-down.”

In addition, “The KEIP Participants’ leadership, management experience and unique understanding of the Debtors’ operations, business relationships, logistical and cash management systems, and other aspects of the Debtors’.”

Read more hhgregg retail bankruptcy news.

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


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