Report: Hhgregg plans to file for bankruptcy as soon as next month

A week after bringing in advisers to determine how to return the chain to profitability, Hhgregg is preparing to file Chapter 11.



The 61-year-old appliances electronics retailer has been grappling with sinking sales for the past two years, and weak holiday sales have pushed the retailer closer to the edge, according to Bloomberg.



In the report, anonymous sources said the filing could come as early as next month, but one source said that Hhgregg is still seeking an out-of-court solution that would allow it to stave off Chapter 11.



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