"We're seeing adaptive reuse things like entertainment are becoming bigger consumers of retail space all the time," Davis said. At a time when inventory is shifting from brick-and-mortar stores into warehouses managed by e-commerce leaders such as Inc., there's no guarantee that even a big-box store in a good location will attract another retail chain.ĭavis acknowledged that it could take new uses to fill at least some HHGregg sites. So, if you look across the state, most of these (HHGregg locations) are not in areas that are struggling. 40 and there's not a ton of (big-box) vacancy in that market. "It's an area where good space is very hard to find. The Greenwood-area location "sits in a very tight pocket of retail that has had redevelopment occur on both sides of the street," Davis said. Davis expressed confidence that HHGregg stores would find new tenants, particularly the two represented by his firm. "We were anticipating, if this were to happen, what direction we might go with the marketing of the properties," said Larry Davis, a first vice president for CBRE Group Inc.ĬBRE manages HHGregg locations on East Washington Street in Indianapolis and on U.S. Even before HHGregg officially collapsed, landlords began preparing to fill vacancies created by the 62-year-old company's failure. More: HHGregg to close all stores after failing to find a buyerįor HHGregg, what began as a consolidation - the company in March announced it would close 88 underperforming stores - quickly spiraled into bankruptcy and liquidation. "Retailers are just downsizing to consolidate and make themselves profitable." "We're over-retailed," said Mark Millman, CEO of retail consultancy Millman Search Group. RadioShack, Payless ShoeScource, The Limited and Family Christian Stores top the list. As the second quarter begins, retailers already have announced plans to close more than 3,000 stores this year - so many, in fact, that HHGregg's 220 closings only rank fifth-most in the U.S., according to a list compiled by Business Insider. HHGregg's liquidation comes amid what analysts have dubbed the "retail apocalypse," the worst period of retail bankruptcies and closings since at least the Great Recession. While some of the openings are in prime locations that will attract interest, all of them face uncertain futures. is in the process of closing all of its stores, including 17 Indiana locations and seven that are within 40 miles of Indianapolis. Indianapolis appliances and electronics seller HHGregg Inc. That HHGregg store near you might never be filled again - at least, not by a retailer. Now they keep auto charging me with cost increasing for NO reason.Watch Video: Defunct HHGregg shutting its doors soon Only reason we went through finance was because we could pay it off in four months (to have extra cash on hand for emergencies.) I wish we had paid in full to begin with. I have paid over DOUBLE what the furniture cost was. I spoke with supervisors instead of dealing with the rude representative that I had before, but got NO call backs. I tried calling the business that we made purchase from (Bob's Furniture) & they told me in their system we were paid in full, that I had to talk to the finance kiosk within the store. Then we started getting notifications for charges twice a month, phone calls saying we were "late" on payments (which was impossible since they were still auto withdrawing monthly) Now a completely different person starts handling our account, calling & being very rude, laughed that we were "No where NEAR" done paying off our purchase. We applied & were told that if we kept up with our monthly payment in four months that we wouldn't incur interest & our purchase would be paid off. From one fool, please same your time money up. The Frederick value city in Maryland, please don't bother. There were three stores near my previous residence. Renter centers didn't want to pick their products. However, I abandoned the merchandise for not giving them proper time to arrange a pick-up. Christine acknowledges my effort of calling them to pick. I waited for Neary four months to hear from the district manager, Christine. Lastly, I called the customer service line. I also waited for their district manager to return from vacation because the store had no updates. I also waited for their manager meeting so they can give me updates. They gave me a runaround about waiting on their district manager. I called the Frederick, MD store multiple times from the end of January to March to arrange their merchandise to be pick-up. I asked them to pick it up and they never did.
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