H. H. Gregg

Image:Hhgregg storefront.jpg

In 1955, a small storefront was erected by Henry Harold and Fansy Gregg on the north side of Indianapolis. The new store featured home appliances, featuring washing machines, clothes dryers, refrigerators, and grills. Shortly thereafter, they began selling televisions and other electronics.

File:Hhgreggstoremap.png

In 1975, Jerry W. Throgmartin began working in his grandfather's store while attending middle school. He eventually worked his way through many positions there over the next 24 years, and in 1999, took over his father's position as Chairman, CEO, and Director of H. H. Gregg Appliances and Electronics.{{cite journal|author=Brian Ploskina |url=http://www.dealerscope.com |title=A Commitment to Vision |journal=Dealerscope |volume=50 |issue=1 |date=January 2008 |url-status=dead |archive-url=https://web.archive.org/web/20080322221915/http://www.dealerscope.com/ |archive-date=March 22, 2008 }}

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.{{cite web|url= http://press.hhgregg.com/2009/02/hhgregg-announces-executive-changes.html|title= hhgregg Announces Executive Changes|publisher= hhgregg|access-date= 2009-02-18|archive-url= https://web.archive.org/web/20090406081433/http://press.hhgregg.com/2009/02/hhgregg-announces-executive-changes.html|archive-date= 2009-04-06|url-status= dead}} Throgmartin died in January 2012.{{cite web|url=http://ir.hhgregg.com/releasedetail.cfm?ReleaseID=641512|title=hhgregg Announces Death of Jerry W. Throgmartin, Executive Chairman of the Board and Former Chief Executive Officer|publisher=hhgregg|date=January 23, 2012|url-status=dead|archive-url=https://web.archive.org/web/20150916024349/http://ir.hhgregg.com/releasedetail.cfm?releaseid=641512|archive-date=September 16, 2015}}

Despite market trends that have diminished profit margins on high-tech devices, Throgmartin and May expanded the business to 125 stores in 9 states as of October 2009. Throgmartin said, "We've been fortunate in that the areas of the [consumer electronics] business that have been strong are the areas in which we excel: high-end large-screen flat-panel TVs and home theater, and higher-end appliances".

On July 8, 2009, the company announced that it planned to open 22 stores in the following year, primarily in Richmond, Virginia, Tampa, Florida, and in Memphis, Tennessee, many of them being in buildings formerly occupied by defunct Circuit City, as part of an aggressive growth strategy to fill the gap created by Circuit City's bankruptcy. In December 2009, construction began on several stores in the central and eastern parts of Pennsylvania, the first in the state. March 2010 brought the openings of the first stores in the Norfolk-Virginia Beach metro area, in converted Circuit City and Linens 'n Things locations. In Spring 2011, the company expanded into the Youngstown, Ohio market with the opening of a store in the Youngstown suburb Boardman.Luthern, Ashley. [http://www.vindy.com/news/2011/jan/06/new-appliance-store-coming-to-valley/ New Appliance Store Coming to Valley] {{Webarchive|url=https://web.archive.org/web/20120403043041/http://www.vindy.com/news/2011/jan/06/new-appliance-store-coming-to-valley/ |date=2012-04-03 }}, Vindicator, 6 January 2011. Ten stores opened in July 2011 in South Florida along the east coast from Miami to West Palm Beach.

Image:Hhgregg-Hanover.jpg

In the fall of 2010, H. H. Gregg opened several stores in former Circuit City locations in Maryland and Virginia.{{cite web|url=http://blog.hhgregg.com/blog/hhgregg/12-new-stores-opening-soon-in-washington-dc-area|archive-url=https://archive.today/20110226120456/http://blog.hhgregg.com/blog/hhgregg/12-new-stores-opening-soon-in-washington-dc-area|url-status=dead|archive-date=2011-02-26|title=12 New Stores Opening Soon in Washington D.C. Area|publisher=H.H.Gregg}} Also, in late 2010, hhgregg partnered with The Cellular Connection, a cellular phone wholesaler based out of Indianapolis, to roll out kiosks to sell Verizon Wireless products.{{citation needed|date=March 2011}}

In March 2011, H. H. Gregg announced it would open a new location in Myrtle Beach, South Carolina, also in the location of a defunct Circuit City.{{cite web|url=http://www.thesunnews.com/2011/03/15/2039991/electronics-store-to-hire-50-in.html |title=Electronics store to hire 50 on Myrtle Beach Area |publisher=The Sun News -Myrtle Beach |url-status=dead |archive-url=https://web.archive.org/web/20110717035959/http://www.thesunnews.com/2011/03/15/2039991/electronics-store-to-hire-50-in.html |archive-date=July 17, 2011 }} In June 2011, H. H. Gregg expanded into the Pittsburgh market with the opening of four stores in the Pittsburgh metropolitan area.{{cite press release | url=https://www.businesswire.com/news/home/20110607005265/en/hhgregg-Announces-the-Grand-Opening-of-Pittsburgh-PA-Stores | title=Hhgregg Announces the Grand Opening of Pittsburgh, PA Stores | date=7 June 2011 }} On September 15, 2011, 14 new stores opened in the Chicago area as well.{{cite news| url=http://www.suntimes.com/business/7140781-420/14-hhgregg-stores-to-open-in-chicago-region-on-sept-15.html | archive-url=https://archive.today/20130203073309/http://www.suntimes.com/business/7140781-420/14-hhgregg-stores-to-open-in-chicago-region-on-sept-15.html | url-status=dead | archive-date=February 3, 2013 | title=14 hhgregg stores to open in Chicago region on Sept. 15 | work=Chicago Sun-Times | date=August 19, 2011}} In September 2012, H. H. Gregg opened four stores in the St. Louis, Missouri metropolitan area.{{cite web|url=http://ir.hhgregg.com/releasedetail.cfm?ReleaseID=706194|title=h.h.gregg Announces the Grand Opening of St. Louis, MO Area Stores|publisher=hhgregg|date=September 11, 2012|url-status=dead|archive-url=https://web.archive.org/web/20150214142310/http://ir.hhgregg.com/releasedetail.cfm?ReleaseID=706194|archive-date=February 14, 2015}}

In July 2012, H. H. Gregg opened a store in Vienna, West Virginia. It was the first store the brand opened in the state.

In August 2012, H. H. Gregg made its debut in Wisconsin by opening stores in Appleton, Brown Deer, Greenfield, Green Bay, and Racine.{{cite web|url=http://ir.hhgregg.com/releasedetail.cfm?ReleaseID=707542|title=h.h.gregg Announces the Grand Opening of Green Bay, WI Area Stores|publisher=hhgregg|date=September 18, 2012|url-status=dead|archive-url=https://web.archive.org/web/20160120125023/http://ir.hhgregg.com/releasedetail.cfm?ReleaseID=707542|archive-date=January 20, 2016}} In November 2012, it entered Louisiana with stores in the New Orleans metropolitan area and in Baton Rouge.{{cite web|url=http://ir.hhgregg.com/releasedetail.cfm?ReleaseID=720892|title=h.h.gregg Announces the Grand Opening of Two New Stores in New Orleans, Louisiana|publisher=hhgregg|date=November 13, 2012|url-status=dead|archive-url=https://web.archive.org/web/20130825012622/http://ir.hhgregg.com/releasedetail.cfm?ReleaseID=720892|archive-date=August 25, 2013}}{{cite web|url=http://ir.hhgregg.com/releasedetail.cfm?ReleaseID=720890|title=h.h.gregg Announces Grand Opening of Baton Rouge, Louisiana Store|publisher=hhgregg|date=November 13, 2012|url-status=dead|archive-url=https://web.archive.org/web/20130114215633/http://ir.hhgregg.com/releasedetail.cfm?ReleaseID=720890|archive-date=January 14, 2013}}

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.{{Citation|last=GandWuser|title=Ultimate HH compilation|date=2017-07-19|url=https://www.youtube.com/watch?v=ilQxLvVwYOc |archive-url=https://ghostarchive.org/varchive/youtube/20211221/ilQxLvVwYOc |archive-date=2021-12-21 |url-status=live|access-date=2018-09-27}}{{cbignore}}

In February 2016, May resigned as CEO, and Robert Riesbeck was named interim CEO.[https://www.wsj.com/articles/hhgregg-ceo-dennis-may-resigns-1455667650 Hhgregg CEO Dennis May Resigns] (Wall Street Journal) In August 2016, Riesbeck was named the permanent CEO.{{cite web|url=https://www.wsj.com/articles/hhgregg-names-robert-riesbeck-permanent-ceo-147007827|title=Hhgregg Names Robert Riesbeck Permanent CEO|last=Minaya|first=Ezequiel|work=The Wall Street Journal|date=August 1, 2016|access-date=April 9, 2017}}{{dead link|date=May 2017}} 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.{{cite web|url=http://www.insideindianabusiness.com/story/35610300/hhgregg-cuts-loose-ceo-other-execs|title=hhgregg Cuts Loose CEO, Other Execs|last=McGowan|first=Dan|work=Inside Indiana Business|date=June 7, 2017|access-date=September 5, 2017}}

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. BML Investment Partners, L.P. acquired at least 7.5% of the company by January 26, 2017.{{cite web|title=SCHEDULE 13G - BML Investment Partners, L.P.|url=https://www.sec.gov/Archives/edgar/data/1373604/000114036117002979/doc1.htm|website=EDGAR Online|access-date=24 November 2017}} On February 15, 2017 the company announced it was exploring "strategic alternatives", implicitly a sale of all or part of the business.{{cite web|title=hhgregg to Explore Strategic Alternatives|url=http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=11862975-5265-10946&type=sect&TabIndex=2&companyid=741475&ppu=%252fdefault.aspx%253fcik%253d1396279|website=EDGAR Online|access-date=24 November 2017}} On March 6, 2017, the bankrupt company filed for reorganization under Chapter 11.{{cite web|title=hhgregg Files for Chapter 11 Reorganization|url=http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=11912776-13570-21576&type=sect&TabIndex=2&companyid=741475&ppu=%252fdefault.aspx%253fcik%253d1396279|website=EDGAR Online|access-date=24 November 2017}}{{cite web|title=Form 8-K|url=http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=11912776-885-13431&type=sect&TabIndex=2&companyid=741475&ppu=%252fdefault.aspx%253fcik%253d1396279|website=EDGAR Online|access-date=24 November 2017}} On March 16, 2017, the company announced that the sale had not been completed.{{cite web|title=hhgregg Terminates Letter of Intent|url=http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=11938176-4710-10332&type=sect&TabIndex=2&companyid=741475&ppu=%252fdefault.aspx%253fcik%253d1396279|website=EDGAR Online|access-date=24 November 2017}} On April 7, 2017, the Chapter 11 case was converted to Chapter 7 liquidation, and H. H. Gregg said it would close all 220 of its locations (the 88 stores previously announced to be closing, plus the other 132 locations) and lay off about 5,000 employees. All stores were closed permanently on May 25, 2017.

In June 2017, the H. H. Gregg brand and intellectual property was purchased by Valor Group LLC for $400,000.Briggs, James (August 22, 2017). "[https://www.indystar.com/story/money/2017/08/22/hhgregg-relaunches-sort-of-promising-grand-reopening/587248001/ HHGregg relaunches, sort of, promising 'grand opening']". Indy Star. Retrieved August 27, 2017. In August 2017, Valor Group LLC announced it would open an online business under the H. H. Gregg name. The online business operates out of Somerset, New Jersey.

The new online store named H. H. Gregg is not affiliated with the company that went out of business. Customers have been told to contact the manufacturer directly for any issues with malfunctioning products sold by the former company. Extended warranties sold by the former company are being serviced by Warrantech.

On September 5, 2019, Valor Group LLC opened its first H. H. Gregg storefront in Franklin Township, NJ.{{cite news |url=https://franklinreporter.com/h-h-gregg-opens-new-retail-electronics-store-in-township/ |title= H.H. Gregg Opens New Retail Electronics Store In Township |first=Bill |last=Bowman |date=September 5, 2019 |newspaper=Franklin Reporter |access-date=2019-09-09}} In 2022, however, it was reported that the store had shuttered.{{cite news |date=December 18, 2022 |title=The State of HHGregg in Somerset, NJ, Late 2022 |url=https://www.youtube.com/watch?v=vzWT2HKrdGw |access-date=2022-12-20 |archive-date=2022-12-22 |archive-url=https://web.archive.org/web/20221222071835/https://www.youtube.com/watch?v=vzWT2HKrdGw |url-status=bot: unknown }}

Fine Lines{{cite web|url=http://www.hhgreggfinelines.com|archive-url=https://web.archive.org/web/20041015144135/http://hhgreggfinelines.com/|url-status=dead|archive-date=2004-10-15|title=Fine Lines – Luxury Kitchen Applances|publisher=hhgregg Fine Lines}} was a division of H. H. Gregg that was introduced November 1, 2004.{{cite news| url= http://findarticles.com/p/articles/mi_go1582/is_/ai_n9440419|title=Kitchens for the elite: H.H. Gregg goes upscale with Fine Lines appliance store|first= Tammy | last= Lieber| work= Indianapolis Business Journal|access-date=2008-01-04}}{{Dead link| date= September 2010|bot=RjwilmsiBot}} Each of its ten stores offered over {{convert|18000|sqft|m2}} of premium lines of appliances.{{cite web|url=http://hhgregfinelines.com/finelineshtml/about/selectionhtml|title=Product Selection|publisher=hhgregg Fine Lines|access-date=January 4, 2008}}{{dead link|date=August 2015}} Products and brands varied by location. There were ten Fine Lines locations.{{cite web|url=http://www.hhgreggfinelines.com/storeLocator.html |title=hhgregg Fine Lines Store Locator |publisher=hhgregg Fine Lines |access-date=January 4, 2008 |url-status=dead |archive-url=https://web.archive.org/web/20090402055213/http://www.hhgreggfinelines.com/storeLocator.html |archive-date=April 2, 2009 }}

H. H. Gregg had its initial public offering on July 20, 2007, at US$13.72 per share, and was traded on the New York Stock Exchange under the ticker symbol HGG.{{cite web|url=http://ir.hhgregg.com/releasedetail.cfm?ReleaseID=255702|title=hhgregg Inc. Announces Pricing of IPO|access-date=2008-02-25|url-status=dead|archive-url=https://web.archive.org/web/20080129195715/http://ir.hhgregg.com/releasedetail.cfm?ReleaseID=255702|archive-date=2008-01-29}}

On February 27, 2017, it was announced that the NYSE suspended trading of HGG in preparation for delisting.{{cite news|url=https://www.reuters.com/article/brief-nyse-to-suspend-trading-immediatel-idUSFWN1GC12O|title=Brief – NYSE to suspend trading immediately in Hhgregg Inc (HGG) and commence delisting proceedings|date=27 February 2017|publisher=|newspaper=Reuters}} HGG shares were formally delisted on March 27, 2017, and became listed in OTC Pink.{{cite web|title=NOTIFICATION OF THE REMOVAL FROM LISTING AND REGISTRATION OF THE STATED SECURITIES|url=http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=11932608-4809-7238&type=sect&TabIndex=2&companyid=741475&ppu=%252fdefault.aspx%253fcik%253d1396279|website=EDGAR Online|access-date=24 November 2017}}{{cite web|title=NOTIFICATION OF REMOVAL FROM LISTING AND/OR REGISTRATION UNDER SECTION 12(b) OF THE SECURITIES EXCHANGE ACT OF 1934|url=http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=11932608-1389-4703&type=sect&TabIndex=2&companyid=741475&ppu=%252fdefault.aspx%253fcik%253d1396279|website=EDGAR Online|access-date=24 November 2017}}

On December 17, 2007, H. H. Gregg signed as one of 14 founding corporate partners for the Lucas Oil Stadium, home of the NFL's Indianapolis Colts. H. H. Gregg's deal earned them rights to advertise in the south gate and display many of their large, flat panel televisions. The south gate was also home to a new {{convert|26000|sqft|m2|adj=on}} H. H. Gregg showroom.{{cite web|url=http://www.indystar.com/apps/pbcs.dll/article?AID=2007312110002|archive-url=https://archive.today/20120905153248/http://www.indystar.com/apps/pbcs.dll/article?AID=2007312110002|url-status=dead|archive-date=2012-09-05|title=Hi-def highlights 'showroom' part of Lucas Oil sponsorship|publisher=The Indianapolis Star|access-date=2008-02-25}} [https://www.youtube.com/watch?v=7U0935NLb30 Alt URL]

From late 2016 until the company's closing, H. H. Gregg sponsored several drivers on the Andretti Autosport team. They sponsored Carlos Muñoz and Marco Andretti. They were slated to become the full-time sponsor of Andretti in 2017, and sponsored them at St. Petersburg. When the company closed, the team removed their logos on their cars, although the logo remained on the firesuits. When Takuma Sato won the 2017 Indianapolis 500, the company logos were still seen on the left breast of his firesuit though H. H. Gregg had closed three days prior to the race.{{Cite news|url=http://sports.usatoday.com/2017/05/29/takuma-sato-indianapolis-500-win-honda-fernando-alonso/|title=Honda power helps give Takuma Sato first Indy 500 win, but strands Fernando Alonso, two others|date=2017-05-29|work=USA TODAY Sports|access-date=2018-01-02|language=en-US}}

{{Reflist}}

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• [http://www.hhgregg.com Official website]

Category:Companies formerly listed on the New York Stock Exchange

Category:Defunct companies based in Indianapolis

Category:Defunct retail companies of the United States

Category:American companies established in 1955

Category:Retail companies established in 1955

Category:Retail companies disestablished in 2017

Category:American companies established in 2017

Category:Retail companies established in 2017

Category:Internet properties established in 2017

Category:Defunct consumer electronics retailers of the United States

Category:Companies that filed for Chapter 11 bankruptcy in 2017

Category:Companies that filed for Chapter 7 bankruptcy in 2017

Category:Companies that have filed for Chapter 7 bankruptcy

Category:Re-established companies

Category:1955 establishments in Indiana

Category:2017 disestablishments in Indiana

Category:2007 initial public offerings