Retailer hhgregg is planning to close 88 stores and three distribution facilities in the US, in line with its strategic goals to improve liquidity and return to profitability.
It is expected that the closures will enable hhgregg to focus on improving in-store and online experiences for its customers.
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According to the retailer, stores that are under-performing due to changes in the local retail shopping landscape will be closed.
hhgregg president and chief executive officer Robert Riesbeck said: “This is a proactive decision to streamline our store footprint in the markets where we have been, and will continue to be, important to our customers, vendor partners and communities.
"We feel strongly that the markets we will remain in are the right ones for our customers and our business model.
"Our team is dedicated to moving forward and being a profitable 132 store, multi-regional chain where we will continue to be a dominant force in appliances, electronics and home furnishings."
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By GlobalDataWith the closures expected to be complete by mid-April, the retailer intends to sell off the stock in the affected stores over the coming weeks.
The closures are expected to displace approximately 1,500 employees. The retailer is also closing the associated distribution and delivery centres located in Maryland, Florida and Pennsylvania.
These facilities will continue to support customer orders of all products sold in the closing locations until they have been delivered.
Image: hhgregg store. Photo: courtesy of William M / Wikipedia.
