Electronics retailer hhgregg is going out of business
Founded in 1955, the retailer had 220 stores in 19 states selling major appliances like washers and TVs, as well as computers and home theater systems.
"While we had discussions with more than 50 private equity firms, strategic buyers, and other investors, unfortunately, we were unsuccessful in our plan to secure a viable buyer of the business on a going-concern basis within the expedited timeline set by our creditors," said CEO Bob Riesbeck.