HH Gregg closing Mall of La. location
BATON ROUGE – The electronics store on the Mall of Louisiana's Boulevard, HH Gregg will close the company announced officially.
"We are strategically exiting markets and stores that are not financially profitable for us," said Robert J. Riesbeck, the company's president and CEO.
Also closing are two other locations in Louisiana: in the New Orleans suburbs Metairie and Harvey.
HH Gregg is undergoing a turnaround, in hopes of improvement business.
"We have determined that the economics of the affected locations will not allow us to achieve our overall goal of becoming a profitable company again. After scrutinizing our real estate portfolio, we have identified a number of underperforming stores, as well as store locations that are no longer strong shopping destinations due to changes in the local retail shopping landscape."
When contacted last week about the possibility of the store at the mall in Baton Rouge closing, a mall official deferred comment to HH Gregg.
Current inventory in the affected stores will be sold over the coming weeks, with final closings expected to be complete by mid-April. The closings will result in the elimination of approximately 1,500 positions.
With HH Gregg's exit from the Boulevard – an outdoor shopping area with many upscale stores – it's corner location will be arguably one of the mall's most visible signs of the changing retail landscape.
Follow the publisher of this post on Twitter: @treyschmaltz
Desktop NewsClick to open Continuous News in a sidebar that updates in real-time.
Restore Louisiana to reopen survey and extend application deadline
Doorman, veteran at local bar salutes for national anthem, becomes internet sensation
Mississippi casino revenue rises as sports betting begins
Doorman, veteran at local bar salutes for national anthem, becomes social media...
Gonzales could fine property owners for uncut grass