In 1955, a couple named Henry Harold and Fansy Gregg would start a small store called hhgregg and at that time they would start selling home appliances at the time and later on, they would start selling electronics. Skip to 1999 because nothing happened, though a new CEO would join being, Jerry W. Throgmartian, and he would expand the company to new heights by the end of his run in 2009 as CEO. He would expand the company to 125 stores in 10 years because it took hhgregg 22 years to make a 2nd store which opened in 1976. So it was a successful reign for Jerry.
When hhgregg actually started to gain traction, it was in 2009. Why though? Because one company called Circuit City in 2009. Circuit City would get chapter 7 liquidation, meaning all of its stores would close, which hhgregg took advantage of. And plus due to the bad economic state of the U.S. at the time. Getting those Circuit City locations would be easy due to them being cheap.
It was as if God wanted them to open more stores. By 2013, they had 228 stores but they couldn’t expand anymore. Also, during 2008-2012 they will show a new mascot, hh. That is his name, not the best or realistic name being greg or even gregg. But now it’s 2016, but their money is really tied up to retail, not electronics or appliances, because they are aggressively expanded. Maybe, even you could call it, reckless expansion, because all their new stores have tied their hands up and now, due to 2017, they will declare Chapter 11 Bankruptcy Protection, so they would need a buyer to buy the entire company, but they couldn’t find a buyer and, on April 7th 2017. hhgregg would filled, for Chapter 7 Liquidation meaning all there stores would close but it would remain as a Online retailer till 2019 when they got a Brick & Mortar store which came out in 2019 in New Jersey.
RELATED STORES:
- https://www.indystar.com/story/money/2017/08/22/hhgregg-relaunches-sort-of-promising-grand-reopening/587248001/
- https://www.virginiabusiness.com/article/hhgregg-will-close-88-stores-including-15-stores-in-virginia/
- https://risnews.com/hh-gregg-brick-and-mortar-back-dead
- https://www.digitalcommerce360.com/2017/10/20/hhgregg-becomes-latest-bankrupt-retail-chain-emerge-online-brand/
- https://www.businessinsider.com/hhgregg-is-closing-stores-distribution-facilities-2017-3
TAKE ACTION:
- https://www.hhgregg.com/ If you want to buy stuff from them.
