Officials with electronics and appliance retailer HHGregg announced today that the struggling business has filed for chapter 11 bankruptcy, the Indianapolis Star reported today. News of the filing comes just days after the company announced the shuttering of 88 stores in 15 states, a major move made to give the retailer a better chance at survival. Indianapolis-based HHGregg has signed a term sheet with an anonymous party to purchase its assets, according to a company press release. Company officials anticipate an emergence from chapter 11 in approximately 60 days.
