H. H. Gregg

H. H. Gregg Inc.
Company typePublic (2007–2017) (Final symbol: HGGGQ)
Private (2017–present)
NYSE: HGG (2007–2017)
IndustryRetail
Founded
  • April 15, 1955; 69 years ago (1955-04-15) (as Gregg Appliances, Inc.)
  • Princeton, Indiana, U.S.
  • August 17, 2017; 7 years ago (2017-08-17) (online comeback)
Founders
  • Henry Harold Gregg
  • Fansy Gregg
DefunctMay 25, 2017; 7 years ago (2017-05-25) (original)
FateChapter 7 bankruptcy
Liquidation sale (original)
HeadquartersSomerset, New Jersey, U.S.
Key people
  • Eli Sapharti
  • (Director of Retail Operations)
ProductsRetailing–Electronics and Appliances
RevenueDecrease US$ 1.96 B (FY 2016)[1]
IncreaseUS$ -51.73 M (FY 2016)[1]
Increase US$ -54.88 M (FY 2016)[1]
Total assetsDecrease US$ 385.35 M (FY 2016)[1]
OwnerValor Group LLC (2017–present)
Number of employees
130 (2019)
Websitehhgregg.com

H. H. Gregg, Inc. (stylized as hhgregg or HHGregg on its website), is an American online retailer and former retail chain of consumer electronics and home appliances in the Midwest, Northeast, and Southeast United States, that operated stores in 20 states including Alabama, Delaware, Florida, Georgia, Illinois, Indiana, Kentucky, Louisiana, Maryland, Mississippi, Missouri, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia[2] and Wisconsin.[3] Valor Group LLC purchased the brand from the company's bankruptcy trustee for $400,000 (~$489,080 in 2023) in 2017. H.H. Gregg closed all stores in liquidation and had been operating as an online-only retailer since August that year. Founded in Princeton, Indiana, in 1955, H. H. Gregg was headquartered in Indianapolis, Indiana, when it ceased operating. Its retail offerings included home entertainment video and audio products, computers, and other selected consumer electronics; home appliances, such as refrigerators, ranges, dishwashers, freezers, washers, and dryers; and other products and services, including mattresses.[4] The company announced on November 24, 2008, that it would begin selling popular gaming systems such as Wii, Xbox 360 and PlayStation 3.[5]

H. H. Gregg reported an annual revenue of US$ 1.96 billion in fiscal year 2016.

On March 6, 2017, H. H. Gregg filed for Chapter 11 bankruptcy. The filing followed the decision to close 88 unprofitable locations outside of its core markets.[6] Troubles for H. H. Gregg continued, and the Chapter 11 case was ultimately converted to Chapter 7 liquidation. The company announced on April 7, 2017, that it would also close all of its other stores (132 more than the 88 previously announced closures) in the coming months and would lay off about 5,000 people.[7]

  1. ^ a b c d HHGregg, Inc. (HGG) Income Statement via Wikinvest.
  2. ^ "hhgregg Announces Grand Opening of Snellville, GA Store". hhgregg. Archived from the original on 2009-05-25. Retrieved 2009-05-06.
  3. ^ "Electronics store hhgregg to open today in Hagerstown, Md". PublicOpinionOnline. Retrieved 2010-04-26.[dead link]
  4. ^ "hhgregg, Inc. (HGG:NYSE) Snapshot". BusinessWeek. Archived from the original on January 27, 2008. Retrieved February 18, 2008.
  5. ^ "hhgregg Launches Gaming Business Across Chain". hhgregg. November 24, 2008. Archived from the original on May 29, 2009. Retrieved November 24, 2008.
  6. ^ "Electronics retailer hhgregg files for bankruptcy". Reuters. March 6, 2017. Retrieved April 8, 2017.
  7. ^ Briggs, James (April 7, 2017). "HHGregg to close all stores after failing to find a buyer". IndyStar. Retrieved April 8, 2017.