hhgregg announced that the Company has terminated its previously announced non-binding term sheet with an anonymous party for the purchase of substantially all of the assets of the Company because the Company was unable to reach a definitive agreement on terms.
Robert J. Riesbeck, hhgregg’s president and C.E.O. states “We have received strong interest from third parties interested in buying some or all of the Company’s assets. We and our advisors continue to work with potential acquirers to help them understand our business model for future growth and our value proposition.”
As previously reported, at the time of its March 6, 2017 Chapter 11 filing, hhgregg announced that it had signed a term sheet with an anonymous party to purchase its assets.
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