H. H. Gregg
Private (2017–present) | |
Industry | Retail |
---|---|
Founded | |
Founders |
|
Defunct | May 25, 2017 | (original)
Fate | Chapter 7 bankruptcy Liquidation sale (original) |
Headquarters | Somerset, New Jersey, U.S. |
Key people |
|
Products | US$ 1.96 B (FY 2016)[1] |
US$ -51.73 M (FY 2016)[1] | |
US$ -54.88 M (FY 2016)[1] | |
Total assets | US$ 385.35 M (FY 2016)[1] |
Owner | Valor Group LLC (2017–present) |
Number of employees | 130 (2019) |
Website | hhgregg |
H. H. Gregg, Inc. (stylized as hhgregg or HHgregg on its website), is an American online retailer and former retail chain of
H. H. Gregg reported an annual revenue of
On March 6, 2017, H. H. Gregg filed for
History
In 1955, a small storefront was erected by Henry Harold and Fansy Gregg on the north side of Indianapolis. The new store featured
In 1975, Jerry W. Throgmartin began working in his grandfather's store while attending
Dennis L. May succeeded Throgmartin as H. H. Gregg's president and Chief Executive Officer on February 17, 2009, and Throgmartin was named Executive Chairman of the Board.[9] Throgmartin died in January 2012.[10]
Despite market trends that have diminished profit margins on
On July 8, 2009, the company announced that it planned to open 22 stores in the following year, primarily in
In the fall of 2010, H. H. Gregg opened several stores in former Circuit City locations in Maryland and Virginia.
In March 2011, H. H. Gregg announced it would open a new location in
In August 2012, H. H. Gregg made its debut in
The company's motto was "Gregg's Got It!", and their official mascot was an animated talking catalogue called HH, voiced by Wally Wingert and bearing likeness to that of the video-game character Rayman.[21]
In February 2016, May resigned as CEO, and Robert Riesbeck was named interim CEO.[11] In August 2016, Riesbeck was named the permanent CEO.[22] After a buyout offer fell through, Riesbeck was terminated along with CIO Tom Schuetz and Chief Merchandising Officer Aaron Trahan. Kevin Kovacs (CFO at the time) was named CEO and president effective June 7, 2017.[23]
Bankruptcy
On March 6, 2017, H. H. Gregg filed for Chapter 11 bankruptcy. The filing followed the closure of 88 unprofitable locations outside of its core markets.
Sale of intellectual property
In June 2017, the H. H. Gregg brand and intellectual property was purchased by Valor Group LLC for $400,000.[29] In August 2017, Valor Group LLC announced it would open an online business under the H. H. Gregg name.[29] The online business operates out of Somerset, New Jersey.[29]
The new online store named H.H. Gregg is not affiliated with the company that went out of business.
On September 5, 2019, Valor Group LLC opened its first H. H. Gregg storefront in Franklin Township, NJ.[30] In 2022, however, it was reported that the store had shuttered.[31]
Fine Lines
Fine Lines[32] was a division of H. H. Gregg that was introduced November 1, 2004.[33] Each of its ten stores offered over 18,000 square feet (1,700 m2) of premium lines of appliances.[34] Products and brands varied by location. There were ten Fine Lines locations.[35]
Stock
H. H. Gregg had its initial public offering on July 20, 2007, at US$13.72 (~$19.00 in 2023) and was traded on the New York Stock Exchange under the ticker symbol HGG.[36]
On February 27, 2017, it was announced that the NYSE suspended trading of HGG in preparation for delisting.[37] HGG shares were formally delisted on March 27, 2017, and became listed in OTC Pink.[38][39]
Sponsorship
On December 17, 2007, H. H. Gregg signed as one of 14 founding corporate partners for the
From late 2016 until the company's closing, H. H. Gregg sponsored several drivers on the
References
- ^ Wikinvest.
- ^ "Electronics store hhgregg to open today in Hagerstown, Md". PublicOpinionOnline. Retrieved 2010-04-26.[dead link]
- ^ "hhgregg Announces Grand Opening of Snellville, GA Store". hhgregg. Archived from the original on 2009-05-25. Retrieved 2009-05-06.
- ^ "hhgregg, Inc. (HGG:NYSE) Snapshot". BusinessWeek. Archived from the original on January 27, 2008. Retrieved February 18, 2008.
- ^ "hhgregg Launches Gaming Business Across Chain". hhgregg. November 24, 2008. Archived from the original on May 29, 2009. Retrieved November 24, 2008.
- ^ a b "Electronics retailer hhgregg files for bankruptcy". Reuters. March 6, 2017. Retrieved April 8, 2017.
- ^ a b Briggs, James (April 7, 2017). "HHGregg to close all stores after failing to find a buyer". IndyStar. Retrieved April 8, 2017.
- ^ a b Brian Ploskina (January 2008). "A Commitment to Vision". Dealerscope. 50 (1). Archived from the original on March 22, 2008.
- ^ "hhgregg Announces Executive Changes". hhgregg. Archived from the original on 2009-04-06. Retrieved 2009-02-18.
- ^ "hhgregg Announces Death of Jerry W. Throgmartin, Executive Chairman of the Board and Former Chief Executive Officer". hhgregg. January 23, 2012. Archived from the original on September 16, 2015.
- ^ a b Hhgregg CEO Dennis May Resigns (Wall Street Journal)
- ^ Luthern, Ashley. New Appliance Store Coming to Valley Archived 2012-04-03 at the Wayback Machine, Vindicator, 6 January 2011.
- ^ "12 New Stores Opening Soon in Washington D.C. Area". H.H.Gregg. Archived from the original on 2011-02-26.
- ^ "Electronics store to hire 50 on Myrtle Beach Area". The Sun News -Myrtle Beach. Archived from the original on July 17, 2011.
- ^ "Hhgregg Announces the Grand Opening of Pittsburgh, PA Stores" (Press release). 7 June 2011.
- ^ "14 hhgregg stores to open in Chicago region on Sept. 15". Chicago Sun-Times. August 19, 2011. Archived from the original on February 3, 2013.
- ^ "h.h.gregg Announces the Grand Opening of St. Louis, MO Area Stores". hhgregg. September 11, 2012. Archived from the original on February 14, 2015.
- ^ "h.h.gregg Announces the Grand Opening of Green Bay, WI Area Stores". hhgregg. September 18, 2012. Archived from the original on January 20, 2016.
- ^ "h.h.gregg Announces the Grand Opening of Two New Stores in New Orleans, Louisiana". hhgregg. November 13, 2012. Archived from the original on August 25, 2013.
- ^ "h.h.gregg Announces Grand Opening of Baton Rouge, Louisiana Store". hhgregg. November 13, 2012. Archived from the original on January 14, 2013.
- ^ GandWuser (2017-07-19), Ultimate HH compilation, archived from the original on 2021-12-21, retrieved 2018-09-27
- ^ Minaya, Ezequiel (August 1, 2016). "Hhgregg Names Robert Riesbeck Permanent CEO". The Wall Street Journal. Retrieved April 9, 2017.[dead link]
- ^ McGowan, Dan (June 7, 2017). "hhgregg Cuts Loose CEO, Other Execs". Inside Indiana Business. Retrieved September 5, 2017.
- ^ "SCHEDULE 13G - BML Investment Partners, L.P." EDGAR Online. Retrieved 24 November 2017.
- ^ "hhgregg to Explore Strategic Alternatives". EDGAR Online. Retrieved 24 November 2017.
- ^ "hhgregg Files for Chapter 11 Reorganization". EDGAR Online. Retrieved 24 November 2017.
- ^ "Form 8-K". EDGAR Online. Retrieved 24 November 2017.
- ^ "hhgregg Terminates Letter of Intent". EDGAR Online. Retrieved 24 November 2017.
- ^ Indy Star. Retrieved August 27, 2017.
- ^ Bowman, Bill (September 5, 2019). "H.H. Gregg Opens New Retail Electronics Store In Township". Franklin Reporter. Retrieved 2019-09-09.
- ^ "The State of HHGregg in Somerset, NJ, Late 2022". December 18, 2022. Retrieved 2022-12-20.
- ^ "Fine Lines – Luxury Kitchen Applances". hhgregg Fine Lines. Archived from the original on 2004-10-15.
- ^ Lieber, Tammy. "Kitchens for the elite: H.H. Gregg goes upscale with Fine Lines appliance store". Indianapolis Business Journal. Retrieved 2008-01-04.[dead link]
- ^ "Product Selection". hhgregg Fine Lines. Retrieved January 4, 2008.[dead link]
- ^ "hhgregg Fine Lines Store Locator". hhgregg Fine Lines. Archived from the original on April 2, 2009. Retrieved January 4, 2008.
- ^ "hhgregg Inc. Announces Pricing of IPO". Archived from the original on 2008-01-29. Retrieved 2008-02-25.
- ^ "Brief – NYSE to suspend trading immediately in Hhgregg Inc (HGG) and commence delisting proceedings". Reuters. 27 February 2017.
- ^ "NOTIFICATION OF THE REMOVAL FROM LISTING AND REGISTRATION OF THE STATED SECURITIES". EDGAR Online. Retrieved 24 November 2017.
- ^ "NOTIFICATION OF REMOVAL FROM LISTING AND/OR REGISTRATION UNDER SECTION 12(b) OF THE SECURITIES EXCHANGE ACT OF 1934". EDGAR Online. Retrieved 24 November 2017.
- ^ "Hi-def highlights 'showroom' part of Lucas Oil sponsorship". The Indianapolis Star. Archived from the original on 2012-09-05. Retrieved 2008-02-25. Alt URL
- ^ "Honda power helps give Takuma Sato first Indy 500 win, but strands Fernando Alonso, two others". USA TODAY Sports. 2017-05-29. Retrieved 2018-01-02.
External links
Media related to Hhgregg at Wikimedia Commons