A few days after hhgregg announced plans to close best gift to give your girlfriend to say sorry all its stores, more information was provided about the time frame, gift cards and warranties on previous purchases.
As of March 3, there were 54 million in customer deposits recorded in HHGregg's accounting system.
Bankruptcy Court in Indianapolis, has not yet issued an order on the matter.Published 1:58 PM EST Mar 8, 2017.Watch live, johnny visits Alaska, where he watches bears, climbs glaciers and more.In a bankruptcy filing, HHGregg consultant Joseph Malfitano of Malfitano Advisors LLC said that around March 20 he became aware that there may be an urgent need to begin the process of finding a liquidator because of HHGreggs liquidity status and its inability to secure.I went to the store and wanted to see if there was anything to buy, and by this time there wasn't anything to purchase, he said.Do they still do that?: As far as existing return and price match policies, HHGregg stores will continue to honor these policies.In a public filing with the.S.Subscribe NOW, as ordered by the bankruptcy court, the use of gift cards is limited to the first 14 days of going out of business, if you would draw a card you win the game which would mean the deadline is April.In the hundreds of pages of bankruptcy documents HHGregg filed this week in Indiana, officials provide details about their debts, their assets and how they plan to emerge from the Chapter 11 process as a stronger company.If HHGregg ends up liquidating, store closings would begin April 8 and conclude by May.Securities and Exchange Commission on Friday morning, the retailer said it has entered a consulting agreement with liquidation firms Tiger Capital Group LLC and Great American Group LLC.
Also, any items bought during the liquidation do not qualify for free delivery, special financing or returns, she said.
All current warranties on items bought at hhgregg will be honored by the manufacturer.
"Any inability of the Debtors to promptly honor these obligations would impar goodwill and may lead to the loss of customer patronage.".In the event that it cannot find a buyer for the business, liquidation is the best method to maximize recoveries to the estates and to stop the rapid deterioration of the debtors business at such locations, the company said in a bankruptcy document filed Thursday.In addition of filing for Chapter 11, the company founded in Indianapolis in 1955, is closing 88 stores in 15 states not including Indiana as well as distribution centers in Brandywine,., Miami and Philadelphia.On March 16, the retailer said that deal had fallen through and that it was accepting bids from other interested parties through April.In terms of gift cards, courts will decide if the business must honor them.Unfortunately, Schmidt was past the 14 days.
In the case of Hhgregg, customers can file a claim.