hhgregg Gives Notice To HQ Staff As RadioShack Winds Through Bankruptcy CourtCorporate layoffs to begin May 31 4/19/2017 11:45:00 AM Eastern
It’s still hard to believe that hhgregg is going away.
But if we need any further proof beyond the liquidation sales, there’s the company’s WARN notice (Worker Adjustment and Retraining Notification) to its home state of Indiana.
In a letter received April 12, human resources senior VP Donna Desilets confirmed that hhgregg is permanently closing its corporate offices in Indianapolis, and will begin terminating 268 HQ employees over Memorial Day weekend:
One staffer who will avoid the unemployment lines is Sam Johnson, formerly chief retail officer, who will assume a similar role at Academy Sports + Outdoors, the 225-store sporting goods chain, on Monday.
Elsewhere in Chapter 11 land, RadioShack’s petition continues to wind its way through the U.S. Bankruptcy Court in Delaware, where the trustee, the committee of unsecured creditors and owner General Wireless are bickering over the company’s proposed $1.4 million bonus for seven executives, which it pitched as a key employee incentive plan, or KEIP.
Meanwhile, bids for about a third of the chain’s last 1,500 stores were due in on Monday, with the results of the auction expected next week. Under the plan, General Wireless is supposed to evaluate the remaining 1,000 locations for possible sale or liquidation.
None of this has gone over well in Reynoldsburg, Ohio, where the local RadioShack was recently shuttered. A spoofed Facebook page claiming to represent the location has begun lashing out at customers with such gems as: “We closed. [Expletive] all of you,” and “Always hated all you [expletive] customers anyway,” making it the social-media phenom of the moment.