In a push to become profitable again, electronics retailer Hhgregg announced this week it will close 88 stores, including three in North Carolina – in Mooresville, Durham and Cary. Company-wide, about 1,500 Hhgregg jobs will be cut.
The Indianapolis-based company also said it will close three distribution centers in Pennsylvania, Maryland and Florida. The closures are a way the company aims to refocus on its “core markets” and to improve customers’ in-person and online shopping experience.
Inventory in the stores slated to close will be sold over the next few weeks, the company said. The closings will be complete by mid-April.
The Mooresville store that is closing is at 657 River Hwy., right off Morrison Plantation Parkway.
“We are strategically exiting markets and stores that are not financially profitable for us,” said Robert Riesbeck, hhgregg’s president and CEO, in a statement. “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.”
Long-struggling electronics retailer RadioShack took similar steps in 2015, when it announced the sale and closure of thousands of underperforming stores, including four in Charlotte.
Hhgregg operates two stores in Charlotte (which will remain open) – in north Charlotte at 7024 Smith Corners Blvd. and in the southeast part of the city at 9509 South Blvd.