/raid1/www/Hosts/bankrupt/TCR_Public/191221.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, December 21, 2019, Vol. 23, No. 354

                            Headlines

HHGREGG INC: Gregg Appliances Incurs $100,000 Net Loss in October
LYONS CHEVROLET: Wins Final Court Nod to Use Cash Collateral
PG&E CORP: Reports $2 Million Net Income in October

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HHGREGG INC: Gregg Appliances Incurs $100,000 Net Loss in October
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Gregg Appliances, Inc., a debtor affiliate of hhgregg, inc., filed
with the U.S. Securities and Exchange Commission its monthly
operating report for October 2019.

The Debtor's statement of operations reflected a net loss of
$100,000 for the month.

As of October 31, 2019, Gregg Appliances listed $29.18 million in
total assets, $222.51 million in total liabilities, and $193.33
million in total shareholders' deficit.

The Debtor started the month with $12,289,000 cash.  Cash flows
from operating activities totaled $133,000.  Thus, the Debtor had
$12,833,000 cash at October 31, 2019.

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

                    https://is.gd/9gNJ2S   

                     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 http://www.hhgregg.com/   

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. The Committee tapped
Chipman Brown Cicero & Cole, LLP as its special counsel.

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., at DLA Piper LLP.

                          *     *     *

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 assets.

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, 2017, 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.


LYONS CHEVROLET: Wins Final Court Nod to Use Cash Collateral
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Judge Randal S. Mashburn of the U.S. Bankruptcy Court for the
Middle District of Tennessee authorized Lyons Chevrolet Buick GMC,
Inc., to use the cash collateral of Americredit Financial Services,
Inc., dba GM Financial, through Jan. 14, 2020 on a final basis,
pursuant to the budget.

GM Financial has provided the Debtor, among other things, financing
for the Debtor's vehicle inventory to be used in its dealership
operations, pursuant to a Master Loan Agreement secured by a first
priority lien on all of the Debtor’s assets, including cash
collateral, inventory, the proceeds, products, rents, issues and
profits of said inventory.

As of September 30, 2019, Debtor owes GM Financial:

    * $18,507,631.48 in outstanding principal under the Loan
Agreement, comprised of $15,865,551.53 for new vehicles,
$2,411,642.58 for used vehicles, $45,682.89 for courtesy
transportation vehicles;

    * $280,000.00 in outstanding principal under the Revolver
Note;

    * accrued floor-plan interest as of Sept. 30, 2019 of
$751,483.02;

    * interest on the revolver of $6,029.72, with additional fees
and expenses of $85,499.62, subject to a credit of $938,257.88;

    * interest, charges, and attorney’s fees as they continue to
accrue with regard to all of the indebtedness under the Loan
Documents.

UCC Financing Statements have been filed in the State of Tennessee
to secure the loan.  

The Debtor admits it is in default of its obligations to GM
Financial, and that the Debtor has not remitted the proceeds of the
sale of vehicles financed by GM Financial as required by the loan
documents.  The Debtor specifically acknowledges that it "Sold Out
of Trust" no less than 136 vehicles, for which it owes GM Financial
$5,767,794.61 as of April 30, 2019.

As adequate protection for the diminution of the value of the
collateral, GM Financial will be granted:

    * a postpetition security interest in, and replacement lien on
the Debtor's assets and property existing on or arising, acquired
or created, after the Petition Date, except for any Chapter 5
causes of action under the Bankruptcy Code, in the same priority
and in the same nature, extent, and validity as such liens existed
prepetition, and

    * an administrative expense pursuant to Section 507(b) of the
Bankruptcy Code against Debtor's bankruptcy estate for Debtor's use
of cash collateral to the extent necessary.

As adequate protection for the diminution of the value of the
collateral, GM Financial will be granted:

    * a postpetition security interest in, and replacement lien on
the Debtor's assets and property existing on or arising, acquired
or created, after the Petition Date, except for any Chapter 5
causes of action under the Bankruptcy Code, in the same priority
and in the same nature, extent, and validity as such liens existed
prepetition, and

    * an administrative expense pursuant to Section 507(b) of the
Bankruptcy Code against Debtor's bankruptcy estate for Debtor's use
of cash collateral to the extent necessary.

The Court further ruled that:

    (a) nothing in this final order will authorize the disposition
of any assets of the Debtor, its estate or other proceeds resulting
therefrom outside the ordinary course of business, except as
permitted herein.

    (b) the Debtor will pay the floor-plan balance on any vehicle
sold or leased by Debtor to GM Financial immediately upon
consummation of any sale of a vehicle in the form of a cashier’s
check to be hand-delivered to GM Financial or its lender
representative.

    (c) upon request, Debtor will provide GM Financial with proof
of the payment of any existing liens, Department of Motor Vehicle
fees and/or sales or use tax that arise or have arisen since the
Petition Date.

    (d) should Debtor receive any vehicles as a "trade in" for the
payment of any vehicle constituting collateral, Debtor will notify
GM Financial within one business day of receiving the trade-in and
will promptly pay or satisfy any liens or amounts owing against the
trade-in vehicle.

    (e) trades or transfers of Vehicles by Debtor with other
dealers, wholesale sales, auction sales and fleet sales of greater
than 2 vehicles are prohibited without the prior written consent of
GM Financial.

    (f) as the Debtor in the ordinary course of its service
department's business consumes parts, accessories, supplies or
related equipment, the Debtor will replenish the Parts Inventory so
that the value of the Parts Inventory does not drop below parts
inventory value as of the Petition Date.

    (g) all vehicles previously in demonstration status will not be
returned to demonstrator status without GM Financial's prior
written consent.  Debtor will not place any vehicles into use as
service or "loaner" vehicles and will not permit any vehicles to be
used for overnight test drives without GM Financial's prior written
consent.

               Release of Assignment of GM's Factory Money

GM Financial lodged its assignments of factory monies on April 18,
2019 by virtue of a Joint Notice of Assignment and Demand for
Payment the Debtor executed in Dec. 2013.  Factory monies are owed
to or would normally be paid to the Debtor by General Motors LLC,
through the General Motors "open account" such as rebates,
holdback, warranty service work, and incentives, among others.  The
lodging caused factory money to be paid to GM Financial.  Pursuant
to the second interim order, GM Financial released its lodging of
the assignment of the open account.

The Court ruled that GM Financial will continue to refrain from its
lodging of the Factory Money only under these conditions:

     (i) the Debtor recognizes that all Factory Money previously
paid to GM Financial was appropriately paid to GM Financial by
General Motors and upon entry of this Final Order, the stay is
modified to allow all Factory Money received and held by GM
Financial pursuant to the Cash Management Program in the amount of
$938,257.88 as of September 30, 2019 to be applied by GM Financial
to the outstanding principal Sold Out of Trust (SOT) Amount;

    (ii) the Debtor also recognizes that all Factory Money received
and to be received by the Debtor is GM Financial's Cash Collateral;


   (iii) although the Debtor will be receiving all of the Factory
Money, the Debtor is only entitled to use the cash collateral
related to warranty service work;

    (iv) the Debtor will limit its purchase of parts inventory
through the open account to $40,000 per month, anything to the
contrary in this Order or the final budget notwithstanding; and

     (v) the Debtor will deliver payment to GM Financial, within 10
days of receipt of any open account statement, equaling the total
of all credits on such statement which are not for warranty service
work, even when such credits may have been offset by parts
purchases or other amounts due by the Debtor to General Motors in
any given month.

Pursuant to this final order, the Debtor will provide GM Financial,
within 10 days of the entry of this Order, additional information
describing the transfers, transactions, and uses made by the
Debtor, which resulted in the Debtor's sales out of trust to GM
Financial of approximately $5,983,775.21.

                  Rulings Contrary to Final Order

The final order disclosed that the Court enters an order contrary
to the provisions of the final order:

    (a) granting any lien or security interest that is senior or
pari passu to any lien held by GM Financial in any Collateral or
any assets subject to the Replacement Lien to any person or entity
other than GM Financial;

    (b) granting any lien or security interest that is subordinate
to any lien held by GM Financial in the Collateral or any assets
subject to the Replacement Lien to any person or entity other than
GM Financial without the prior written consent of GM Financial;

    (c) confirming a Chapter 11 Plan of Reorganization by the
Debtor which does not incorporate the provisions of this Final
Order or other terms as may be acceptable to GM Financial in
writing.

A copy of the final order is available at https://is.gd/qfUfTa from
PacerMonitor.com free of charge.

AmeriCredit Financial Services, Inc., d/b/a GM Financial, may be
reached through:

       Stephen P. Strohschein
       301 Main Street, 14th Floor Baton Rouge
       Louisiana 70801
       Telephone: (225) 383-9000
       E-mail: sstroh@mcglinchey.coms

                     About Lyons Chevrolet

Lyons Chevrolet Buick GMC, Inc., is a privately held Tennessee
corporation which owns and operates an automotive dealership in
Marshall County, Tennessee, selling new Chevrolet, Buick and GMC
vehicles and a variety of pre-owned vehicles.  The company also
provides automotive repair service as a component of its dealership
operation.

Lyons Chevrolet Buick GMC sought Chapter 11 protection (Bankr. M.D.
Tenn. Case No. 19-06264) on Sept. 26, 2019 in Columbia, Tennessee.
Latham, Luna, Eden & Beaudine, LLP, serves as the Debtor's
bankruptcy counsel; and Lefkovitz & Lefkovitz is the Debtor's local
counsel.


PG&E CORP: Reports $2 Million Net Income in October
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PG&E Corporation and its operating subsidiary, Pacific Gas and
Electric Company, filed with the U.S. Securities and Exchange
Commission their monthly operating report for October 2019.

The Debtors' consolidated statement of operations showed a net
income of $2 million on $1.38 billion in total operating revenues
for October 2019, as compared to $1.86 billion net loss recorded
for September.

As of October 31, 2019, the Debtors posted consolidated total
assets of $85.74 billion, consolidated total liabilities of $77.01
billion, and consolidated total shareholders' equity of $8.74
billion.

At October 1, 2019, the Debtors had a consolidated cash balance of
$2.92 billion.  They listed consolidated total receipts of $2.09
billion and consolidated total disbursements of $2.33 billion.  At
October 31, the Debtors had $2.68 billion cash balance.

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

                  https://is.gd/lJlGUn

                 About PG&E Corporation

PG&E Corporation (NYSE: PCG) -- http://www.pgecorp.com/-- is a
Fortune 200 energy-based holding company, headquartered in San
Francisco. It is the parent company of Pacific Gas and Electric
Company, an energy company that serves 16 million Californians
across a 70,000-square-mile service area in Northern and Central
California.

As of Sept. 30, 2018, the Debtors, on a consolidated basis, had
reported $71.4 billion in assets on a book value basis and $51.7
billion in liabilities on a book value basis.

PG&E Corp. and Pacific Gas employ approximately 24,000 regular
employees, approximately 20 of whom are employed by PG&E Corp.  Of
Pacific Gas' regular employees, approximately 15,000 are covered by
collective bargaining agreements with local chapters of three labor
unions: (i) the International Brotherhood of Electrical Workers;
(ii) the Engineers and Scientists of California; and (iii) the
Service Employees International Union.

On Jan. 29, 2019, PG&E Corp. and its primary operating subsidiary,
Pacific Gas and Electric Company, filed voluntary Chapter 11
petitions (Bankr. N.D. Cal. Lead Case No. 19-30088).

PG&E Corporation and its regulated utility subsidiary, Pacific Gas
and Electric Company, said they are facing extraordinary challenges
relating to a series of catastrophic wildfires that occurred in
Northern California in 2017 and 2018.  The utility said it faces an
estimated $30 billion in potential liability damages from
California's deadliest wildfires of 2017 and 2018.

Weil, Gotshal & Manges LLP and Cravath, Swaine & Moore LLP are
serving as PG&E's legal counsel, Lazard is serving as its
investment banker and AlixPartners, LLP is serving as the
restructuring advisor to PG&E.  Prime Clerk LLC is the claims and
noticing agent.

In order to help support the Company through the reorganization
process, PG&E has appointed James A. Mesterharm, a managing
director at AlixPartners, LLP, and an authorized representative of
AP Services, LLC, to serve as Chief Restructuring Officer.  In
addition, PG&E appointed John Boken also a Managing Director at
AlixPartners and an authorized representative of APS, to serve as
Deputy Chief Restructuring Officer.  Mr. Mesterharm, Mr. Boken and
their colleagues at AlixPartners will continue to assist PG&E with
the reorganization process and related activities.  Morrison &
Foerster LLP, as special regulatory counsel.

The Office of the U.S. Trustee appointed an official committee of
creditors on Feb. 12, 2019. The Committee retained Milbank LLP as
counsel; FTI Consulting, Inc., as financial advisor; Centerview
Partners LLC as investment banker; and Epiq Corporate
Restructuring, LLC as claims and noticing agent.

On Feb. 15, 2019, the U.S. trustee appointed an official committee
of tort claimants.  The tort claimants' committee is represented by
Baker & Hostetler LLP.


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