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Stores going out of business

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

  1. Apr 13, 2017 #1 of 233
    Rich

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    I got an email about this, just go to this: Welcome to hhgregg you'll see what I saw. I did look at a couple items, didn't see any really low prices.

    Rich
     
  2. Apr 13, 2017 #2 of 233
    jimmie57

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  3. Apr 13, 2017 #3 of 233
    TANK

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    I remember when Circuit City went of business. I don't remember any real low prices on anything besides some odd cables and cell phone accessories. Most went to the liquidators.
     
  4. Apr 13, 2017 #4 of 233
    Nick

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    Not surprised. Two things come to mind - over time, the profit margin on electronics has gotten very thin, and there's the so-called "Amazon effect". With a tap of my finger I recently bought a 50" Sceptre LED display from Walmart online for $269 w/free delivery to my door. I also remember Circuit City when they went from employing eager, knowledgeable and helpful commissioned sales people to min wage hourly dolts that didn't know a composite from a component connection. Not surprised at all that Gregg's B&Ms are closing. My local mall is on life support and two of the three anchor stores, Pennys and Sears, have very few cars in their respective parking lots. Other than a grocery store, it's been a long time since I've even been in a store and I got lousy/no service at that.
     
    Last edited: Apr 13, 2017
  5. Apr 13, 2017 #5 of 233
    SamC

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    I think most stuff at the store is actually on consignment from the manufacturers and you will not find much on sale except for cable and parts.
     
  6. Apr 13, 2017 #6 of 233
    Rich

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  7. Apr 13, 2017 #7 of 233
    Rich

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    I went to our CC and picked up some small items, always sad to see a large chain pack it in.

    Rich
     
  8. Apr 13, 2017 #8 of 233
    Rich

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    I did get an email from a liquidator for HH Gregg. No online links, you'd have to go into a store.

    Rich
     
  9. Apr 13, 2017 #9 of 233
    jimmie57

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    Their stock ticker has changed from HGG to HGGGQ.
    Today it is $0.03 per share.

    I believe that article said liquidation started Saturday ?
     
  10. Apr 13, 2017 #10 of 233
    Rich

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    I saw the stock dip. They must be in really bad shape.

    Rich
     
  11. Apr 13, 2017 #11 of 233
    Cholly

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    hhgregg declared bankruptcy in March and began liquidation this month after failing to find a buyer. The firm had lost money in the last 13 quarters.
     
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  12. Apr 13, 2017 #12 of 233
    yosoyellobo

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    Just pass by this morning for the heck of it. There shells were mostly empty. This lady ask if she could help me with anything and as a joke I told her this looks like a clearance sale and when she said that it was I did not have the heart to tell her what I meant.
     
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  13. Apr 14, 2017 #13 of 233
    Herdfan

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    I am not surprised. I used to visit their store on 96th St. in Indianapolis when I needed to get out of the in-laws house. Didn't like the layout and the store never had a welcoming feel to it.
     
  14. Apr 14, 2017 #14 of 233
    Mark Holtz

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    Should you ever see a store closing and liquidation sale, run... do not walk... RUN RUN FAR AWAY!!!!! The prices during a liquidation sale often start out high, then drop slowly downward, and all sales are FINAL.
     
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  15. Apr 14, 2017 #15 of 233
    peds48

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    Not always. I bought $1000 worth of stuff at Sports Authority for $400 and change, all Under Armor stuff. Loved it.

    Shirts that I paid $27.99 at Dicks I bought them for $9.79. Shorts that are $34.99 at Dicks were $12.79. Few sweaters at $24.79 that sold for $69.99 etc. Great bargain.

    Yeah all sales are final, but if they have what you want and the size that you need I don't see a reason for return. Also it helps to be a no popular size since more common sizes are gone fairly quickly.


    Sent from my iPhone using Tapatalk
     
  16. Apr 15, 2017 #16 of 233
    Herdfan

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    I remember CC's demise. I had bought a nice set of Polk floor speakers. Top of the line, at least top of what CC carried. As they were struggling before they went into liquidation they started dropping the price on the same speaker. And part of their low-price guarantee they would refund the difference plus 10%. I did that 3 times before they actually entered liquidation and final sales. Ended up with paying somewhere around 50% of the original price.
     
  17. Apr 17, 2017 #17 of 233
    SamC

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    There are several types of liquidation sales. Sometimes it is just a scam, since "liquidation" just means turning objects into cash and does not necessarially imply going out of business. Sometimes you are dealing with the company who may be going out of business or may simply be closing the location. Sometimes you are dealing with a bank or court appointed liquidator who really must sell everything down to the bare walls. Also sometimes some of product is on consignment and just goes back to the manufacturer.

    I got lots of good stuff at the Radio Shack deal. They really went down to the bare walls and were selling things for 5 cents.
     
  18. Apr 17, 2017 #18 of 233
    TheRatPatrol

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    We still have a Radio Shack opened down the street from me. I've never gone in so I'm not sure what they sell. Probably cell phones and accessories.

    I was at Best Buy on Saturday and they had more staff standing around doing nothing than they had customers.

    Are you guys surprised Best Buy is still around, do you think they're next?

    I keep hearing JCPennys and Sears could be next.
     
  19. Apr 17, 2017 #19 of 233
    Rich

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    From everything I've read Sears appears to be on the verge of packing it in. Our closest BB is kinda dismal. We do have a couple others nearby that seem to do well. Haven't been to a Radio Shack in years, we do have one across the river, I think, but I can get everything I used to get at RS from Amazon or other online retailers. Amazon is killing off mortar and brick retailers left and right.

    Rich
     
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  20. Apr 17, 2017 #20 of 233
    Rich

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    Yeah, we had a furniture store on 22 that had a "Going out of business" sale every couple weeks. Just changed the wording slightly for each sale. Always wondered how they got away with that. They did go out of business recently.

    Rich
     

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