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hhgregg to close all stores

If you’re looking to buy a dishwasher at a discounted price, you might be able to find one at hhgregg, as long as you get there before the end of May.

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The going-out-of-business sales have begun for the 62-year-old electronics and appliances retailer.

On Friday, April 7 -- about a month after filing for Chapter 11 bankruptcy -- hhgregg announced that it will close all 220 of its stores by the end of May, affecting about 5,000 jobs across the U.S.

"While we had discussions with more than 50 private equity firms, strategic buyers and other investors, unfortunately, we were unsuccessful in our plan to secure a viable buyer of the business on a going-concern basis within the expedited timeline set by our creditors,” hhgregg CEO Bob Riesbeck said in a statement.

Shoppers have just a few weeks to use gift cards at hhgregg. The IndyStar reports that hhregg is limiting refunds on items bought before March 6 to $2,850.

Hhgregg is one of many retailers closing stores within the first half of 2017. Bebe and Wet Seal announced closings of all stores nationwide. News that Payless ShoeSource had filed for Chapter 11 bankruptcy surfaced last week. Earlier this year, J.C. Penney announced it would close more than 100 stores across the county. 

>> Related: Macy’s, Kmart, JCPenney: More retailers closing brick-and-mortar stores

>> Related: Ralph Lauren to close flagship NYC Polo store, dozens of other locations

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Ralph Lauren to close flagship NYC Polo store, dozens of other locations

Ralph Lauren announced Tuesday it will soon close its flagship Polo store on Fifth Avenue in New York City.

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The closure, scheduled for April 15, is part of a restructuring plan designed to save the company $140 million a year, CNBC reported.

In addition to shuttering more than 50 stores, the company will also trim its workforce by 8 percent, but would not say how many jobs will be eliminated, according to Bloomberg.

After closing the flagship location, Ralph Lauren will still have seven stores and its Polo Bar Restaurant in New York City.

A company spokesperson said the retailer plans to test new concepts, including the Ralph’s Coffee brand. It will also invest more resources in its e-commerce venture and streamline its organization.

Ralph Lauren made headlines last year for designing Team USA’s parade uniforms for the 2016 Rio Olympics.

Now, it’s facing a $370 million shakeup and shares that have fallen more than 14 percent since the beginning of the week.

The company is among many affected by Americans’ decisions to shop online and avoid traditionally pricey brands. Earlier this week, Bebe announced it will close all its stores and move to online-only sales. The Limited also closed all its stores, and many department stores, including Macy’sSears, and J.C. Penney, are facing hard times and shuttering mall locations nationwide.

Related: Payless ShoeSource to close 400 stores, files for bankruptcy

Bebe closing all stores, moving to online-only sales

Another popular retailer is ditching its brick-and-mortar stores and going to an online-only business.

>> Read more trending news

Bebe Stores Inc.,  a women’s clothing chain which operates fewer than 200 store locations across the United States, is closing all its stores and shifting its focus to become an online-only retailer. 

Bloomberg first reported the news on March 21. It said Bebe has “no significant debt” but has lost about $200 million over the last four years.

Bebe released a statement on March 22, saying that it is “exploring strategic alternatives for the company” and “there is no assurance that this process will result in any specific transaction.”

Bebe, based in Brisbane, California, was founded in 1976.

>> Related: Wet Seal closing all stores

>> Related: J.C. Penney to close between 130-140 stores

>> Related: hhgregg to close 88 stores across the country; see the list

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