From Home Furnishing Business
Report: HH Gregg Preparing Bankruptcy Filing
Struggling retailer HH Gregg (NASDAQ: HHG) is preparing to file for Chapter 11 bankruptcy protection – possibly as soon as next month, according to a report from Bloomberg News.
The company, which recently announced it had hired a financial adviser to explore strategic alternatives, has lost money the last two fiscal years as sales have slumped.
The report said the retailer is still seeking an out-of-court solution in hopes of avoiding a Chapter 11 filing.
To read the Bloomberg story, click here.