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Is HH Gregg going out of business?

Discussion in 'The OT' started by Rich, Apr 13, 2017.

  1. jimmie57

    jimmie57 Hall Of Fame

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    JCP closed here in my town. I think they might go before Sears but both are hurting.
     
  2. Rich

    Rich DBSTalk Club DBSTalk Club

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    Can't remember the last time I was at a JCPenney store. I used to buy St. John's Bay T-shirts and sweatshirts from them. Only place that sold them (well, I've never seen them anywhere else) and they just stopped carrying them in my size. Hmm, haven't checked their website lately, let me make sure...Yup, no XLXT T-shirts. Plenty of "regular" tees. More height discrimination.

    Rich
     
  3. inkahauts

    inkahauts Well-Known Member

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    Jc penny's is in much better shape that Sears and Kmart.

    Penny's is going to close 138 stores in a couple months to trim the fat. They are actually doing ok in their turn around. But it's a long process so we'll see what happens. But they are only closing one store in california which I think is a sign they are heartier in bigger markets.

    Sears is being killed by Kmart imho. That was a bad deal from the get go. I think they have a year left maybe personally. They need to close half their stores tomorrow if they want a chance to survive. Half being pretty much all the Kmart from what is going on at the near me. The store is awful and shouldn't be open.

    I've worked for a couple companies that went under. The signs are there for Sears and it's kinda sad. Penny's though, I'd give them a fighting chance to survive. If I where them I'd talk to Amazon personally and get Amazon to open their brick and mortor stores inside penny's stores. I'd give them one of the floors in my three floor stores and see how it went.
     
  4. Cholly

    Cholly Old Guys Rule! DBSTalk Club

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    I just went over to the RS web site, looking for a master/slave controlled power strip like the one I have on my SFF Dell. the web site is the property of "General Wireless Operations Inc [US]", which purchased RS in 2015. Turns out that company filed for Chapter 11 bankruptcy protection in March. The rS operations were showing a profit, but t;heir Sprint affiliation dragged them down.
     
  5. James Long

    James Long Ready for Uplink! Staff Member Super Moderator DBSTalk Club

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    RS was purchased in bankruptcy. The locations and the brand name was the only asset left. Now there will be a lot less of them. A far as I can tell, they died before "General Wireless".
     
  6. dpeters11

    dpeters11 Hall Of Fame

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    I remember a few years ago there was a Radio Shack Super Bowl commercial with all the big 80s stars (or look alikes). My first thought was cool, Radio Shack is going back to when it was good. My Tandy was a nice machine.

    Not exactly what they had in mind for that ad.
     
  7. yosoyellobo

    yosoyellobo Icon

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    When I was a kid I remember stores going out of business for years. Some of them might still be.
     
  8. Rich

    Rich DBSTalk Club DBSTalk Club

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    You oughta see the Kmart across the river from my house. Deserted, just employees. They've pulled at least half the fluorescent tubes from the ceiling fixtures, the floor is filthy. What happened? Used to be a very good store.

    Rich
     
  9. jimmie57

    jimmie57 Hall Of Fame

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    Walmart and Target kick their butts on a routine basis.
     
  10. Rich

    Rich DBSTalk Club DBSTalk Club

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    I used to live down the street from that Kmart. Odd thing is it's in a very affluent area, not an area where I'd think any store would be so ignored by the owners.

    Rich
     
  11. Cholly

    Cholly Old Guys Rule! DBSTalk Club

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    a mall about 8 miles from my home had Belk's, Pennys and Sears as anchors. The Penny's and Sears stores will be gone by June. A nearby Super Kmart folded a year or so ago and is now being reborn as a storage facility. Most of our local Radio shacks are gone, and Macy's in our biggest mall has closed.
     
  12. inkahauts

    inkahauts Well-Known Member

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    They decide to invest zero dollars into Kmart stores and just do enough to keep 25% of the lights on. They are down right dingy now.

    I think their theory is only do enough to get merchandise to the store and ring people up. That might help pay for the leases. I'm guessing they haven't closed them because thy are trying to figure out how to deal with the leases and not kill Sears at the same time. I have to believe Kmart is dragging down Sears too.
     
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  13. jimmie57

    jimmie57 Hall Of Fame

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    Sears is selling off it's patented name brands. Recently they sold the Craftsman named to Stanley Works. Now they are seeing what else they can sell.
    Link:Sears may sell Kenmore and Craftsman brands

    I don't know why this article says they are trying to sell Craftsman since it is already done.
     
  14. James Long

    James Long Ready for Uplink! Staff Member Super Moderator DBSTalk Club

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    The article is from May 2016. The Craftsman brand sold in January 2017.
     
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  15. Cholly

    Cholly Old Guys Rule! DBSTalk Club

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  16. inkahauts

    inkahauts Well-Known Member

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    Yes not good. Its a big sign they are selling off their biggest asset before doing a liquidation sale for their stockholders.
     
  17. inkahauts

    inkahauts Well-Known Member

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    How a true liquidation generally works is they put everything up to full MSRP price to start and then take 10% off. That's usually higher than regular price, but people seem to think they have to buy it now, or they wont have another chance. And then they see how sales are going for each category and slowly make the discounts higher on certain categories to keep their sell through rates at certain numbers till its all gone.

    Generally you wont see many things sell for below what they where sold at at good sales till the very end when most of the good new stuff is already gone and you are already picking through distressed inventory anyway.
     
  18. jimmie57

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    timmythd likes this.
  19. yosoyellobo

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    Just got an email from hhgregg saying they just got a new shipment of merchandise in. :)
     
  20. crodrules

    crodrules Member

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    Ironically, after our Super Kmart closed, it became a HH Gregg. D'oh!
     

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