Indianapolis-based HHGregg’s future in question
INDIANAPOLIS (WISH) – Sixty-one years after expanding its appliance and electronics sales out of Indianapolis, HHGregg could be preparing to file Chapter 11 bankruptcy, according to reports.
Online filing records did not indicate action by the company as of Friday.
The Indianapolis Business Journal reported the filing could come in March after the retailer announced it hired a brokerage and investment firm to work on financial strategies.
HHGregg’s nine central Indiana locations are a fraction of the retailer’s 220 stores nationwide.
The company first opened in Indianapolis in 1955.
HHGregg sent us the following statement:
We’re focused on continuing to execute our business strategy, as planned, and returning this company to profitability. We remain fully committed to serving our customers’ needs.