The going-out-of-business sales start this weekend at HHGregg.
The bankrupt electronics and appliances retailer is planning to begin liquidating its assets Saturday after failing to find a buyer by its Friday deadline. The company expects all of its 220 stores to close by the end of May.
HHGregg CEO Bob Riesbeck in a statement said the company has "continued to fight for the future" since March 6 when it filed for Chapter 11 bankruptcy protection.
The retailer currently has two Knoxville locations, according to its website.
"While we had discussions with more than 50 private equity firms, strategic buyers, and other investors, unfortunately, we were unsuccessful in our plan to secure a viable buyer of the business on a going-concern basis within the expedited timeline set by our creditors," Riesbeck said.
The liquidation ends a 62-year run for HHGregg, which is headquartered on 96th Street.
