H. H. Gregg

H. H. Gregg, Inc.

Company type	Public (formerly)
Industry	Consumer electronics, household appliances, retail
Founded	January 1, 1955 (1955-01-01) in Princeton, Indiana, U.S.
Founder	Henry Harold Gregg, Fansy Gregg
Defunct	May 25, 2017 (2017-05-25)
Fate	Filed for Chapter 11 bankruptcy in 2017; liquidated and closed all stores; brand relaunched as online retailer
Successor	H. H. Gregg (online retailer by Valor Group LLC)
Headquarters	Indianapolis (former), Somerset (current online) , United States
Area served	United States (Midwest, Northeast, Southeast)
Key people	Eli Sapharti (Director of Retail Operations), Dennis L. May (former CEO), Jerry W. Throgmartin (former Chairman & CEO), Robert Riesbeck (former CEO), Kevin Kovacs (CEO and President in 2017)
Products	Consumer electronics, home appliances, gaming consoles, mattresses
Number of employees	approx. 5,000 (before liquidation) (2017)
Website	www.hhgregg.com

H. H. Gregg, Inc. (commonly branded as hhgregg or HHgregg) is a U.S.-based online retailer and former physical retail chain specializing in consumer electronics and household appliances. Established in 1955 in Princeton, Indiana by founders Henry Harold Gregg and Fansy Gregg, the company expanded its footprint to operate stores across 21 states in the Midwest, Northeast, and Southeast regions of the United States, including locations in Alabama, Florida, Illinois, Indiana, New Jersey, Ohio, Pennsylvania, and Virginia. Prior to discontinuing its brick-and-mortar operations, the corporate headquarters were located in Indianapolis, Indiana.

The company’s merchandise lineup featured home entertainment equipment, computers, refrigerators, ranges, dishwashers, washers, dryers, and mattresses. In 2008, H. H. Gregg broadened its offerings to include gaming consoles such as the Wii, Xbox 360, and PlayStation 3 to increase its market penetration. Its business approach combined retail sales with service offerings aimed at middle-market consumers seeking value in electronics and home appliances.

For the fiscal year 2016, H. H. Gregg reported revenues near US$1.96 billion but experienced deteriorating financial results with operating deficits. On March 6, 2017, the company filed for Chapter 11 bankruptcy protection after shutting down 88 underperforming stores outside its core markets. This bankruptcy proceeding was soon converted to Chapter 7 liquidation, resulting in the announcement to close all remaining 132 stores and terminate approximately 5,000 employees.

In mid-2017, Valor Group LLC purchased the H. H. Gregg brand for $400,000 and relaunched it exclusively as an e-commerce retailer. This transition focused on leveraging the established brand through online sales channels without the expenses linked to physical storefronts.

Among key executives during the company’s final phase was Eli Sapharti serving as Director of Retail Operations. The leadership team faced significant challenges adapting to a rapidly changing retail environment amid fierce competition from online marketplaces and large-format retailers.

The history of H. H. Gregg exemplifies the obstacles traditional electronics retailers encounter when striving to sustain market relevance and growth amid evolving consumer preferences and industry disruptions.

History

H. H. Gregg was founded in 1955 by Henry Harold and Fansy Gregg in Indianapolis, initially offering home appliances such as washing machines, dryers, refrigerators, and grills before expanding into televisions and other electronic products.

Jerry W. Throgmartin joined the family enterprise in 1975 and progressed through multiple positions over a span of 24 years before assuming roles as Chairman, CEO, and Director in 1999. He was succeeded by Dennis L. May as CEO in 2009 while Throgmartin took on the role of Executive Chairman until his passing in 2012.

Under the leadership of Throgmartin and May, the company expanded to operate 125 stores across nine states by 2009. Their strategy emphasized high-end large-screen televisions, home theater systems, and premium appliances to sustain a competitive edge despite narrowing profit margins in advanced technology products.

On July 8, 2009, H. H. Gregg revealed plans to open 22 new stores within one year targeting markets such as Richmond, Tampa, and Memphis—often utilizing former Circuit City locations—as part of an assertive expansion following Circuit City's bankruptcy. By December of that year construction had commenced on stores in Pennsylvania; early 2010 saw openings in the Norfolk-Virginia Beach area by converting spaces previously occupied by Circuit City and Linens 'n Things. Expansion continued with new outlets opening in Boardman, Ohio (2011), South Florida’s east coast (July 2011), along with former Circuit City sites in Maryland and Virginia (fall 2010).

In late 2010, the company partnered with The Cellular Connection to incorporate Verizon Wireless kiosks within their stores to broaden their product and service offerings.

Throughout 2011, H. H. Gregg entered Myrtle Beach, South Carolina; expanded into Pittsburgh with four additional stores; launched fourteen locations around Chicago; and by September 2012 had opened four outlets in St. Louis. August 2012 marked their entry into Wisconsin with five stores across major cities followed by openings in New Orleans and Baton Rouge, Louisiana that November.

The corporate slogan was "Gregg's Got It!" supported by an animated mascot named HH.

In February 2016 Dennis May resigned as CEO; Robert Riesbeck was appointed interim CEO before becoming permanent CEO in August that year. Following a failed acquisition attempt, Riesbeck along with CIO Tom Schuetz and Chief Merchandising Officer Aaron Trahan were dismissed. On June 7, 2017 CFO Kevin Kovacs was elevated to CEO and president.

Bankruptcy

On March 6, 2017, H. H. Gregg initiated Chapter 11 bankruptcy proceedings following the shutdown of 88 underperforming stores outside its primary markets. By January 2017, BML Investment Partners, L.P. had secured ownership of at least 7.5% of the company's shares. In February, the firm revealed it was considering "strategic alternatives," suggesting a possible sale of all or part of its operations. Although the Chapter 11 filing was intended to facilitate restructuring, the sale had not been finalized by March 16. Subsequently, on April 7, 2017, the bankruptcy case transitioned to Chapter 7 liquidation, resulting in the closure of all 220 outlets and the termination of roughly 5,000 employees. The complete shutdown of all stores occurred on May 25, 2017.

Sale of intellectual property

In June 2017, Valor Group LLC acquired the H. H. Gregg brand along with its intellectual property assets for $400,000. By August of that year, Valor Group had launched an e-commerce platform under the H. H. Gregg name, operating out of Somerset, New Jersey. This new operation is independent from the original company; customers are referred directly to manufacturers for product support, while extended warranty services are managed by Warrantech.

On September 5, 2019, Valor Group inaugurated its first physical retail location under the H. H. Gregg banner in Franklin Township, New Jersey. However, by 2022 reports indicated that this store had ceased operations.

Fine Lines

Fine Lines represented a specialty division of H. H. Gregg introduced on November 1, 2004, focusing on high-end kitchen appliances. Each of its ten locations offered an extensive selection of premium appliances exceeding in value, with product assortments and brands customized to each store’s market area. This upscale subsidiary sought to capture a more affluent segment within the appliance retail sector.

Stock

H. H. Gregg became a publicly traded company on July 20, 2007, with an initial public offering priced at $13.72 per share and listed on the New York Stock Exchange under the ticker symbol HGG. On February 27, 2017, trading of HGG shares was suspended by the NYSE ahead of delisting procedures. The stock was officially removed from the exchange on March 27, 2017, thereafter continuing trading over-the-counter on the OTC Pink marketplace.

Sponsorship

On December 17, 2007, H. H. Gregg joined as one of fourteen founding corporate partners for Lucas Oil Stadium, home venue for the NFL's Indianapolis Colts. This partnership included advertising rights at the stadium’s south entrance and featured displays showcasing their large flat panel televisions. Additionally, a dedicated H. H. Gregg showroom was established at this gate.

From late 2016 until its closure, H. H. Gregg sponsored drivers on the Andretti Autosport team such as Carlos Muñoz and Marco Andretti. They intended to serve as full-time sponsors in 2017 and supported the team during events like St. Petersburg. After ceasing operations, their logos were removed from race cars but remained visible on drivers’ firesuits. Notably, when Takuma Sato won the 2017 Indianapolis 500, H. H. Gregg's branding was still present on his firesuit despite the company having closed three days prior.

External links

• Official website