INDIANAPOLIS—Two more struggling retailers are shuttering a total of 208 stores nationwide. Electronics and furniture chain hhgregg Inc. said Thursday that it would close three distribution facilities and 88 store locations in 15 states as part of its turnaround efforts. Earlier this week, fashion retailer BCBG Max Azria Group LLC filed for Chapter 11 protection, after previously announcing that 120 of its locations would go dark.

“We are strategically exiting markets and stores that are not financially profitable for us,” says Robert J. Riesbeck, hhgregg's President and CEO. “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.”

Riesbeck says the markets in which hhgregg will continue to operate are “the right ones for our customers and our business model. Our team is dedicated to moving forward and being a profitable 132-store, multi-regional chain where we will continue to be a dominant force in appliances, electronics and home furnishings.”

The retailer is closing stores across Alabama, Delaware, Florida, Georgia, Illinois, Louisiana, Maryland, Missouri, New Jersey, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia and West Virginia. In connection with these closings, hhgregg is closing its distribution centers in Brandywine, MD, Philadelphia and Miami.

At BCBG, the voluntary bankruptcy filing was accompanied by commitments of $45 million in new financing. “BCBG is an iconic brand that launched the contemporary sector over 28 years ago,” says acting interim CEO Marty Staff. “The steps we are taking now, to address the shift in customer shopping patterns and the growth of online shopping, will allow us to focus on our partner relationships, digital, ecommerce, selected retail locations, and wholesale and licensing arrangements. The Chapter 11 filing will further aid the implementation of these steps and overall strategy while we explore opportunities to recapitalize the company and profitably expand our international footprint.”

The closings follow reports earlier this year that The Limited and Wet Seal would close all of their remaining stores. Sears, Macy's and J.C. Penney have also announced closings in recent weeks.

Instant Insights /

More Store Closings from hhgregg, BCBG

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