LOUISVILLE, KY (WAVE) - Consumer electronics chain HHGregg Inc. is shutting down its stores. The company's liquidation sale begins on Saturday and will last for about five or six weeks.
The Indianapolis company said Friday that it will liquidate its assets after failing to find a buyer for the business. It filed for bankruptcy protection in March.
Founded in 1955, the retailer says it has 220 stores in 19 states selling major appliances like washers and TVs. As of May last year, the company employed around 5,000 people.
The company has locations in Louisville, Elizabethtown, and Clarksville.
Employees will receive all wages and benefits they are due through the Worker Adjustment and Retraining Notification Act.
All sales will be final and "as is," though the company will accept returns for defective items purchased during the closing sale if the customer could not reasonably determine a product was defective by looking at it.
For the first 14 days of the sale, the company will accept gift certificates and gift cards that were issued before HHGregg filed for bankruptcy.
The company is the latest brick-and-mortar chain to buckle under due to industry changes from the rise of online shopping. Amazon.com has eaten away at sales of almost every traditional retailer. Earlier this week, shoe chain Payless ShoeSource filed for bankruptcy protection.