Four days after announcing its plans to scale back its store count, hhgregg filed for Chapter 11 bankruptcy protection to resolve about $80 million in debt. For hhgregg, the recent developments are a reversal from its bid since 2009 to expand from a husband and wife company mostly associated with Indiana into a recognizable national brand.
After closing stores that it feels are less profitable, hhgregg will be left with 132 locations.. . . more