BOARDMAN, OH (WKBN) – hhgregg is closing 88 stores and three distribution facilities in an effort to turn around the company.
On Thursday, hhgregg announced the decision to close the stores — four of which are in Ohio. The stores closing in Ohio include stores in Newark, Fairlawn, Mansfield and Springdale.
There are several stores closing in Pennsylvania, including Pittsburgh and Erie.
“We are strategically exiting markets and stores that are not financially profitable for us,” said Robert J. Riesbeck, hhgregg’s President and CEO. “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.”
Current inventory in the affected stores will be sold over the coming weeks, with final closings expected to be complete by mid-April. The closings will result in the elimination of approximately 1,500 positions.