Nostalgic Retail Series #19 - HHGREGG

Now an online only retailer, hhgregg was founded in Indianapolis in 1955 by Henry Harold (the "hh") and Fansy Gregg (you get the drift).

In 2009, despite pressures on margins on electronic and high-tech devices, hhgregg plotted aggressive expansion (this was also the flat screen tv boom era). Taking over many old Circuit City boxes in 2010 and 2011, the expansion continued through 2015 with a peak revenue of $1.96B in 2016.

After closing 88 unprofitable stores in March of 2017 hhgregg filed for Chapter 11 bankruptcy. The bankruptcy was converted to Chapter 7 in April and the remaining 132 stores were announced to be closing. All closures were completed in May of 2017.

The brand and intellectual property was purchased by Valor Group in August of 2017 for only $400,000 and an online-only business was born. In 2019, an attempt was made to open a physical location in Franklin Township, NJ, but that lasted only a few years and no expansion occurred.

Today, you can find hhgregg online as a mostly forgotten retailer of consumer electronics.