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HHGregg's home fires burning low

 

Consumer electronics and appliances retailer HHGregg Inc, could pull the plug on a number of stores if it's not able to restructure its debt before loans come due.

 

The retailer said it had hired Stifel Financial Corp to advise it on strategic and financial transactions, as the company struggles with sales declines.

 

The company, which has a market value of about $12 million, last month reported a 23.8 percent fall in sales for the third quarter.

 

"We are committed to improving our results through our business strategy, including investments made to shift our focus to appliances and furniture, and additional expected cost reductions," Chief Executive Robert Riesbeck said in a statement on Wednesday.

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