Oh Not not another store closing…..HHGregg will be closing 88 of their under-performing stores in 15 states. They are closing these stores in an attempt to increase their profitability by eliminating stores that are not financially profitable. The states in which these stores will be closing are: Alabama, Delaware, Florida, Georgia, Illinois, Louisiana, Maryland, Missouri, New Jersey, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia and West Virginia. In addition to these store closing, the company will be closing distribution centers in Brandywine, Md., Miami and Philadelphia.
The closing will be completed mid-April and there will be approximately 15oo job layoffs.
HHGregg reported a 22 percent drop in sales at stores that have been opened for at least 14 months.