Macon HHGregg closing, retailer to shutter 220 U.S. stores

Retailer HHGreg

The going-out-of-business sales started for retailer HHGregg over the weekend, including its Macon store.

The bankrupt retailer began liquidating its assets Saturday after failing to find a buyer. The company expects to close all of its 220 stores by the end of May, resulting in about 5,000 layoffs across the U.S.

"Going-out-of-business" and "all sales final" signs were posted at the Macon store in the Eisenhower Crossing shopping center over the weekend.

HHGregg CEO Bob Riesbeck in a statement said the company has "continued to fight for the future" since March 6 when it filed for Chapter 11 bankruptcy protection.

"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," Riesbeck said.

A company spokeswoman said Riesbeck was not available for an interview.

The liquidation process means HHGregg customers only have a few weeks left to use gift cards and return previously purchased items. Customers who want to make returns could end up being disappointed. The company, citing its bankruptcy process, is limiting returns on items bought before March 6 to $2,850 — a fraction of the cost of many high-ticket appliances and televisions.

The liquidation ends a 62-year run for HHGregg, which is headquartered on 96th Street. The company was founded by Henry Harold Gregg and his wife, Fansy.

2017 STORE CLOSINGS: J.C. Penney, Kmart, Macy's and more

J.C. Penney released a list of 138 stores the retailer plans to close. Macon Mall made that list, along with stores in Dublin, Milledgeville and Tifton.

Company officials say the closings will result in the loss of 5,000 jobs nationwide. Most stores will start liquidation sales in mid-April with closings slated to begin in June.

Macy’s said last year it was closing 100 stores nationwide.

 

Macon Mall didn’t make that list, making its Macy’s the mall’s last surviving traditional anchor store.

RELATED: Is your local Sears or Kmart among 150 stores to be axed? See the list

 

James Briggs, Indianapolis Star (USA Tod


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