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Author Topic: HHGregg closing 40% of its stores, retreating to core markets  (Read 248 times)
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retailisking
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« on: March 02, 2017, 02:33:30 PM »

88 stores to close, plus three distribution centers will be shuttered. Market exits include Philadelphia, Baltimore-Washington and much of Florida.
http://www.twice.com/news/retail/hhgregg-closing-40-its-stores/64454
« Last Edit: March 04, 2017, 11:19:56 AM by retailisking » Logged
retailisking
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« Reply #1 on: March 04, 2017, 11:19:03 AM »

hhgregg to file for bankruptcy. Will they survive? Not in today's climate...
https://www.bloomberg.com/news/articles/2017-03-03/hhgregg-said-to-be-filing-for-bankruptcy-as-soon-as-next-week
« Last Edit: March 04, 2017, 11:21:57 AM by retailisking » Logged
BillyGr
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« Reply #2 on: March 04, 2017, 01:31:08 PM »

Depends - since they are retreating to areas where they have been for a longer time (and are probably better known) those stores may do fine once they get rid of the ones that were lesser known.
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retailisking
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« Reply #3 on: March 05, 2017, 02:51:45 PM »

Depends - since they are retreating to areas where they have been for a longer time (and are probably better known) those stores may do fine once they get rid of the ones that were lesser known.

I get the feeling that they're just too far gone to save even the "core" stores at this point. The word from their home market isn't good:
http://www.indystar.com/story/money/2017/03/03/briggs-hhgreggs-reinvention-might-too-late/98593668/
« Last Edit: March 05, 2017, 09:16:29 PM by retailisking » Logged
retailisking
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« Reply #4 on: March 20, 2017, 09:42:22 AM »

I thought it sounded too good to be true...one has to assume that total liquidation is back on the table.
http://www.ibj.com/articles/63026-hhgreggs-deal-with-proposed-buyer-falls-apart
« Last Edit: March 20, 2017, 01:54:15 PM by retailisking » Logged
NJxxJon
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« Reply #5 on: March 20, 2017, 10:54:43 PM »

I see them as Circuit city's scraps for some reason.......North NJ has all these stores.
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retailisking
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« Reply #6 on: March 21, 2017, 08:54:53 AM »

I see them as Circuit city's scraps for some reason.......North NJ has all these stores.
Quite a few of the HHGregg stores in their new territories were former CC stores. Those are already closing as part of their bankruptcy.
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