hhgregg slated to close nearly 100 stores nationwide including C - KMOV.com

hhgregg slated to close nearly 100 stores nationwide including Chesterfield location

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(Credit: hhgregg). (Credit: hhgregg).

(KMOV.com) – According to a filing on Thursday with the Securities and Exchange Commission, hhgregg will close nearly 100 stories nationwide including the Chesterfield store.

In total, 88 stores and three distribution centers will be closing by mid-April as the company aims to reallocate resources and return the organization to profitability.

“We are strategically exiting markets and stores that are not financially profitable for us,” said Robert J. Riesbeck, hhgregg’s President and CEO.

Current inventory in the affected stores will be sold over the coming weeks. Approximately 1,500 positions will be lost as a result of the closures. 

“I want to thank each and every manager and associate in our stores and distribution centers, and their families, for their continued efforts, contributions and support,” said Riesbeck. “I understand this is not an easy process to go through; our history has shown that our team members will meet this challenge head-on and continue to support our customers and each other through the closing process.”

At this time, the Fenton, St. Peters and Fairview Heights locations will remain open. 

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