Feb 24 Appliances and electronics retailer
hhgregg Inc is preparing to file for bankruptcy as soon
as next month, Bloomberg reported on Friday.
The retailer is still seeking an out-of-court solution that
would help it prevent filing a Chapter 11, Bloomberg reported,
citing people familiar with the matter. (bloom.bg/2kS4j3E)
Hhgregg's sales have fallen for 14 quarters in a row as it
struggles to cope with intense competition.
The company said on Feb. 15 it was pursuing a range of
The Indianapolis, Indiana-based company's stock has lost
more than three-fourth of its value in the last 12 months.
(Reporting by Gayathree Ganesan in Bengaluru; Editing by Savio