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hhgregg Rises From The Dead

Like The Great Pumpkin, former appliance, tech and furniture chain hhgregg has risen from the bankruptcy patch in time for the holiday season.

They’re baaaack.

No, not anyone associated with the original, liquidated hhgregg (although founding family scion Gregg Throgmartin had reportedly considered buying a bunch of its best stores).

This one’s a virtual hhgregg, revived online and in name only after a New Jersey holding company, Valor LLC, bought the brand and other intellectual property for $400,000 in a bankruptcy auction last June.

According to bankruptcy court documents (stored, incidentally, on Amazon Web Services servers), Valor outbid Sears by $50,000, and Hilco Streambank, which conducted the auction, decided to quit while they were ahead.

Further details are sketchy but according to published reports, Valor principal Michael Eisner has tapped F&E Trading, a Somerset, N.J.-based distributor, to provide virtual inventory and fulfillment, and named as president one Moses Bijou, who may or may not be affiliated with online-only white-goods seller Appliance.com.

Eisner is also reportedly connected to CircuitStreet, a Brooklyn, N.Y., drone and digital imaging e-tailer with a D- rating by the Better Business Bureau.

Like CircuitStreet, the new hhgregg offers cameras and drones, as well as phones, TVs, computers and appliances — plenty of appliances — by tier-one brands like Samsung, Sony, LG, GE, Bosch and Maytag.

The e-tailer, which launched today following a fits-and-starts countdown, describes itself as an authorized dealer with “unopened factory fresh products.” 

The site also pictures a long-since shuttered hhgregg store with long-since laid-off associates on its homepage.

Valor has not responded to outreach by TWICE.

Hat tip to The Indianapolis Star,
The Indiana Lawyer and Internet Retailer.

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