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Friday, March 3, 2017

HHGregg Closing 88 Stores After Bankruptcy Rumors.


     In order to stay in business, Indianapolis- based HHGregg is closing 40 percent of there stores, that means 88 locations will close by near the end of April. This is a preventative measure, as last week, talk of bankruptcy was in the news, and this might prevent having to file for chapter 11 next quarter. The electronic & appliance retailer will also close three distribution centers.

     Out of the list of locations, 6 of which are in Illinois, 4 in the Chicago area. According to the Chicago Tribune, Robert Riesbeck, the CEO claims these locations will be shuttered do to poor sales, or are located in areas that are no longer shopping destinations. I can not speak for any of the other locations, but the Schaumburg, Bloomingdale, Niles, and Arlington Hts. stores are very busy, and in heavily vitalized shopping centers.

      This might be another chain to bite the dust, as several dozen chains closed up shop in 2016, mostly clothing and mall-dominant chains, but national retailer's like Sports Authority began closing there stores in March and ceased business by August. I hope HHGregg will follow that path, but its March and there closing stores, they might just fold this summer. Its not uncommon for a electronics chain to go out of business, especially in recent times.

Here is the list of locations closing by mid-April:

Alabama
Mobile
Trussville

Delaware
Newark
Dover
Wilmington

Florida
Pembroke Pines
Hialeah
Sawgrass, Plantation
Fort Lauderdale
Kendall, Miami
West Palm Beach
Boca Raton
Homestead
Florida Mall, Orlando
Pensacola
Aventura
Pinecrest
Treasure Coast Mall, Jensen Beach
Gainesville

Georgia
Stonecrest, Lithonia
Gwinnett, Duluth
Southlake, Morrow
Buckhead, Atlanta

Illinois
Schaumburg
Bloomingdale
Arlington Heights
Niles
Springfield
Champaign

Maryland
Hagerstown
Largo
Waldorf
Rockville
Frederick
Catonsville
Hanover
Bel Air
Towson
Annapolis
Glen Burnie

Louisiana
Kenner Westgate, Metairie
Westbank, Harvey
Mall of Louisiana, Baton Rouge

Missouri
Chesterfield

New Jersey
Moorestown
Deptford, Woodbury
Mays Landing

North Carolina
Mooresville
Durham
Cary
Asheville

Ohio
Newark, Heath
Fairlawn, Akron
Mansfield      
Tri-County, Springdale

Pennsylvania
Lower Paxon, Harrisburg
York
Mechanicsburg
Lancaster
Wilkes-Barre
Dickson City
Wyomissing
Downington
King of Prussia, Berwyn
Montgomeryville, North Wales
Whitman Square, Philadelphia
Langhorne
Whitehall
North Hills, Pittsburgh
Erie

Tennessee
Mt. Juliet

Virginia
Short Pump, Henrico
Chesterfield, Midlothian
Newport News
Virginia Beach
Chesapeake
Fredericksburg
Colonial Heights
Winchester
Roanoke
Springfield
Sterling
Fairfax
Bailey's Crossroads, Falls Church
Woodbridge
Manassas

West Virginia
Parkersburg, Vienna

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