Defunct HHGregg Relaunches, Sort Of
HHGregg, which bit the retail dust last quarter, is being resurrected as a retail concern. Or so says the web site HHGregg.com, which is back online and selling Apple watches on a rudimentary splash page. It promises a grand reopening with (all caps) AMAZING DAILY DEALS!
The rebooted HHGregg has nothing to do with the defunct Indianapolis chain, the Indianapolis Star reports. Rather, an entity called Valor LLC acquired HHGregg's intellectual property for $400K in June, outbidding Sears Holdings by $50K. Thus Valor has the right to use the HHGregg name, logo and other assets.
HHGregg filed for Chapter 11 in March, and began liquidating its 220 stores nationwide the next month, after failing to secure a buyer.
Valor, on the HHGregg Facebook page, which is also up and running again, promises vaguely to be online and in "a few locations." Attempts to reach Valor have thus far been unsuccessful.