hhgregg has announced it will close 88 stores across the country. The appliance store chain has been losing money for the past two years, according to a story from Bloomberg. (Photo courtesy of hhgregg)
Cox Media Group National Content Desk
Appliance store hhgregg has announced that it will be closing 88 stores across the country, laying off 1,500 employees.
“We are strategically exiting markets and stores that are not financially profitable for us,” hhgregg CEO Robert Riesbeck said in a statement. “This is a proactive decision to streamline our store footprint in the markets where we have been, and will continue to be, important to our customers, vendor partners and communities."
The stores are expected to be shuttered by mid-April.