RICHMOND, Va. -- Electronic and appliance retailer hhgregg is closing 88 stores across the country, including its Short Pump, Midlothian, and Colonial Heights locations.
"We are strategically exiting markets and stores that are not financially profitable for us," Robert J. Riesbeck, hhgregg's President and CEO, said. "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."
The closings hhgregg stores will continue to sell inventory in March. All impacted stores should close by mid-April, a company spokesperson said. Approximately 1,500 people will lose their jobs nationwide.
"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," Riesbeck said. "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."
Indianapolis-based hhgregg first moved to Central Virginia in 2009 when it took over stores built for Richmond-based Circuit City.