TCR_Public/170715.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Saturday, July 15, 2017, Vol. 21, No. 195


HHGREGG INC: Net Loss Widens to $96.07 Million in May


HHGREGG INC: Net Loss Widens to $96.07 Million in May
hhgregg, Inc., et al., filed with the U.S. Securities and Exchange
Commission their monthly operating report for May 2017.

The Debtors' statement of operations showed a net loss of $96.07
million on net sales of $36.31 million in May, an increase from
$47.76 million net loss reported in April.

As of May 31, 2017, the Debtors listed $63.04 million in total
assets, $223.81 million in total liabilities, and $160.77 million
in total shareholders' deficit.

The Debtors started the month with $1.69 million cash.  Cash flows
from operating activities totaled $12.06 million, cash flows from
investing activities totaled $1.92 million, and cash flows from
financing activities totaled $13.19 million.  Thus, the
Debtors had $2.48 million at May 31, 2017.

A copy of the monthly operating report is available at the SEC at:


                      About hhgregg Inc.

Indianapolis, Indiana-based hhgregg, Inc., is an appliance,
electronics and furniture retailer.  Founded in 1955, hhgregg is a
multi-regional retailer currently with 220 stores in 19 states
that also offers market-leading global and local brands at value
prices nationwide via    

hhgregg Inc., Gregg Appliances Inc. and HHG Distributing LLC
sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. S.D. Ind. Lead Case No. 17-01302) on March 6, 2017.  The
petitions were signed by Kevin J. Kovacs, chief financial officer.

At the time of the filing, hhgregg and HHG Distributing estimated
assets and liabilities of less than $50,000.  Gregg Appliances
estimated assets and liabilities at $100 million to $500 million.

The Debtors engaged Morgan, Lewis & Bockius LLP and Ice Miller LLP
as counsel; Berkeley Research Group, LLC as financial advisor;
Stifel and Miller Buckfire & Co. as investment banker; Hilco IP
Services as intellectual property advisor; Altus Group US, Inc. as
tax advisor; and Donlin, Recano & Company, Inc. as claims and
noticing agent.

The U.S. Trustee has appointed creditors to serve on the official
committee of unsecured creditors in the case of Gregg Appliances,
Inc., Case No. 17-01303-RLM-11.  No official committee has been
appointed in the cases of hhgregg, Inc., No. 17-01302-RLM-11 or
HHG Distributing, LLC, No. 17- 01304-RLM-11.

The Committee hired Cooley LLP and Bingham Greenebaum Doll LLP as
counsel, and ASK LLP as avoidance claims counsel.  The Committee
retained Province Inc. as financial advisor.

Counsel to the Agent for the Debtors' prepetition secured lenders
and the lenders providing DIP financing are Sean M. Monahan, Esq.,
at Choate, Hall & Stewart LLP; and Jay Jaffe, Esq., at Faegre
Baker Daniels, LLP.

Counsel to the FILO Agent is:

         Stuart Brown, Esq.
         DLA Piper LLP
         1201 North Market Street, Suite 2100
         Wilmington, DE 19801

                          *     *     *

When hhgregg filed for Chapter 11 bankruptcy, it had signed a term
sheet with an anonymous party to purchase the Company assets.  The
Company said at that time it expected a quick and smooth process
through Chapter 11 with emergence in approximately 60 days.  Ten
days later, hhgregg said it has terminated the nonbinding term
sheet with the anonymous party because the Company was unable to
reach a definitive agreement on terms, and said it continues to
work with interested third parties to purchase assets of the
business.  hhgregg added it had received strong interest from
third parties interested in buying some or all of the Company's

Subsequently, hhgregg executed a consulting agreement with a
contractual joint venture comprised of Tiger Capital Group, LLC and
Great American Group, LLC to conduct a sale of the merchandise and
furniture, fixtures and equipment located at the Company's retail
stores and distribution centers.  

In an April order, the Bankruptcy Court approved, at the Company's
request, a plan for the Company to close 132 retail stores and the
Company's distribution centers.  

According to a disclosure with the Securities and Exchange
Commission in March, debtors Gregg Appliances, Inc. and HHG
Distributing, LLC entered into a Consulting Agreement with a
contractual joint venture between Tiger Capital Group and Great
American Group to conduct the sale of the merchandise and
furniture, fixtures and equipment located at the Company's 132
retail stores and the distribution centers.

As of June 8, the Debtors have completed store closing sales in
all its stories.

The Company has said it does not anticipate any value will remain
from the bankruptcy estate for the holders of the Company's common
stock, although this will be determined in the continuing
bankruptcy proceedings.


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Troubled Company Reporter is a daily newsletter co-published
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