Sun Television and Appliances
From Wikipedia, the free encyclopedia
| Sun Television and Appliances | |
|---|---|
 |
|
| Fate | Bankruptcy |
| Founded | Unknown |
| Defunct | 1998 |
| Location | Unknown |
| Industry | Retail |
| Products | Computers, Televisions, Home Audio, Car Audio, VCRs, Freezers, Washers, and Dryers. |
Sun Television and Appliances was a speciality retailer of consumer electronics and home appliances. The company primarily operated stores in rural areas, where there was no other competition,[1] in Ohio, Indiana, New York, Pennsylvania, Maryland, West Virginia, Virginia and Kentucky.
In late 1996, Indiana-based H.H. Gregg Appliances and Electronics had arranged to purchase Sun in an $87.5 million deal that would have paid $5 per share to the owners of Sun's 17.5 million outstanding shares.[2] However, H.H. Gregg withdrew from the deal over concerns regarding Sun's financial condition.[3]
The company ceased operations in 1998 after filing for Chapter 11 bankruptcy in September of that year, and after attempts to sell the company as a going concern failed.[4] Some locations were purchased by H.H. Gregg Appliances and Electronics, and were reopened as H.H. Gregg locations.[3]
[edit] References
- ^ "Sun TV announces 20-store expansion", Columbus Business First, November 20, 1997. Retrieved on 2006-09-29. (English)
- ^ "Indiana chain buys Sun Television", Business First of Columbus, December 11, 1996. Retrieved on 2006-09-29. (English)
- ^ a b "H.H. Gregg takes over closed Sun TV sites", Business First of Columbus, April 12, 1999. Retrieved on 2006-09-29. (English)
- ^ "SUN TELEVISION: Announces Decision To Liquidate", Troubled Company Reporter, InterNet Bankruptcy Library, November 4, 1998. Retrieved on 2006-09-29. (English)
[edit] External links
- Company profile (business.com)
