ATLANTA -- Yet another major retailer announced on Thursday that it would be closing several stories including four in metro Atlanta.
As part of a nationwide company "turnaround" hhgregg will be closing 88 stores. Stores in Buckhead, Stonecrest Mall in Lithonia, Ga., Gwinnett Mall, Ga. in Duluth and Southlake Mall in Morrow, Ga. are included.
"We are strategically exiting markets and stores that are not financially profitable for us," said hhgregg CEO and President Robert J. Riesbeck said.
He added that the decision was an attempt to streamline the "store footprint" in remaining 132 stores.
"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. We feel strongly that the markets we will remain in are the right ones for our customers and our business model."
Stores will be selling off their current inventory over the coming weeks with the closing process to end sometime in mid-April. The company confirms that about 1,500 positions will be eliminated in the process.
The appliance, electronics and furniture retailer was founded in 1955 and currently operates 220 stores in 19 states.