LocalNews

Retailer hhgregg fails to find buyer, will close all nationwide stores

A month after declaring bankruptcy and announcing plans to close some of its stores, Indianapolis-based electronics retailer hhgregg has announced it will shut down for good in about eight weeks and close the remainder of its stores, including the location in Mishawaka.

WXIN-TV reports the retailer failed to find a buyer and has thus made an agreement with liquidation firms Great American Group LLC and Tiger Capital Group LLC to begin moving the chain’s remaining stock at 132 stores and more than a dozen distribution centers.

This is the latest retailer to announce either bankruptcy or shutdown plans in a seemingly rapid state of developments, with MC Sports, Family Christian Stores, Gordmans, JC Penney, and Payless Shoesource making similar announcements in the past several weeks.

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