(WTHR) Indianapolis based company HH Gregg announced that it is filing for Chapter 11 bankruptcy Tuesday morning.
The store, which wsells appliances and electronics, has worked over the past year to review other options, but decided that Chapter 11 is the best move, which provides protection from creditors, to allow the company to reorganize.
HH Gregg hopes to re-emerge from Chapter 11 in 60 days.
While HH Gregg will close 88 under performing stores in Virginia, Maryland, and Ohio, no stores in Indiana are slated to close at this time.
(photo courtesy of WTHR)