hhgregg Files for Chapter 11 Bankruptcy; New Owner Will Take Over
Days after the company announced plans to close 88 stores, hhgregg says it has filed for bankruptcy. The electronics and appliance retailer announced it has filed for Chapter 11 bankruptcy and has reached an agreement to sell the business to an unidentified buyer. Hhgregg’s CEO said says the new ownership is “fully committed” to operating the 132 stores that will remain. No Indiana stores will close.