HHGregg Said to Be Filing for Bankruptcy as Soon as Next Week
- Company announced plans Thursday to shutter 88 locations
- Store-closing effort may help jump-start restructuring
A hhgregg store in Miami, Florida, on March 2, 2017.
Photographer: Joe Raedle/Getty ImagesThis article is for subscribers only.
HHGregg Inc., the 61-year-old seller of appliances and electronics, is moving closer to Chapter 11 after announcing a store-closing plan, according to people with knowledge of the matter.
The filing may come as soon as next week, said the people, who asked not to be identified because the matter isn’t public. Bloomberg previously reported that HHGregg might file for bankruptcy in March if it couldn’t reach an out-of-court solution.