08 April 2017 (15:48 UTC-07 Tango 06) 19 Farvardin 1396/11 Rajab 1438/12 Jia Chen 4715
After 62 years Indianapolis based electronics retailer hhgregg suddenly died, all 220 stores and 14 distribution centers shutting down by the end of next month!
Bankrupt hhgregg had until 07 APR 2017 to find a buyer, but nobody came through: “…we had discussions with more than 50 private equity firms, strategic buyers and other investors, unfortunately, we were unsuccessful in our plan to secure a viable buyer of the business on a going-concern basis within the expedited timeline set by our creditors.”-Bob Riesbeck, CEO
Administrators blame the death of hhgregg on years of crashing electronics sales and a failed attempt shift to other types of home appliances.
Hhgregg will add thousands more unemployed retail workers to the tens of thousands who will be unemployed by Summer: RUE21, HI-TECH RETAIL FAIL!
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JCPENNEY HIT-LIST REVEALED! 138 STORES BEGIN SHUTTING DOWN IN TWO WEEKS!
OBAMA LEGACY: U.S. APPAREL INDUSTRY DEATH-SPIRAL