Heritage Home headquarters sale and exclusivity extension approved

By Caroline Salls

Pittsburgh, Dec. 11 – Heritage Home Group LLC received court approval for HHG Real Property LLC’s $4 million private sale of its High Point, N.C., headquarters to Medical Realty Advisors, LLC, as well as an extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to orders filed Monday with the U.S. Bankruptcy Court for the District of Delaware.

Heritage Home said it did not receive any bids for the headquarters property as part of the auction for its non-luxury-group assets, so it was not included in that sale.

The company’s exclusive filing period was extended through Jan. 25 from Nov. 26 and the solicitation period through April 25 from Jan. 25.

According to the motion, Heritage Home has made significant progress in its Chapter 11 cases, culminating in the going-concern sale of its luxury business and store-closing sales.

The company said it has also begun discussions with its secured lenders regarding a wind down of its operations and distributions to creditors.

Since the Heritage Home debtors have focused much of their time and resources on transitioning into Chapter 11 and conducting a sale process and the debtors have demonstrated their efforts to work cooperatively with their stakeholders, the company said it should be granted more time to negotiate and finalize a Chapter 11 plan.

High Point, N.C.-based Heritage Home Group is a home furnishings manufacturer and retailer. The company filed bankruptcy on July 29 under Chapter 11 case number 18-11736.

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