Hhgregg to Close in Manassas

MANASSAS, VA — Indiana-based electronics retailer hhgregg is closing 88 stores nationwide, and one of of the casualties is the store at 7412 Stream Walk Lane, the company announced Thursday.

It's expected to close sometime in April, according to a company statement.

"After scrutinizing our real estate portfolio, we have identified a number of underperforming stores, as well as store locations that are no longer strong shopping destinations due to changes in the local retail shopping landscape," hhgregg President/CEO Robert J. Riesbeck said in a statement. "We are strategically exiting markets and stores that are not financially profitable for us."

The other stores in Northern Virginia set to close are in Fairfax, Falls Church, Fredericksburg, Springfield, Sterling and Woodbridge.

Currently, there are 220 hhgregg stores in 19 states, and the decision to consolidate the corporate footprint came weeks after hhgregg announced it would need to restructure to earn a profit.

On Thursday, hhgregg reported that it would be eliminating approximately 1,500 positions through the closures.
"We feel strongly that the markets we will remain in are the right ones for our customers and our business model," Riesbeck said. "Our team is dedicated to moving forward and being a profitable 132 store, multi-regional chain where we will continue to be a dominant force in appliances, electronics and home furnishings."

In the weeks ahead, the stores will sell off their inventory, with the locations to shutter by the middle of April.

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