Sun Television and Appliances
 | |
| Company type | 1949 - 1991: Private May 1991 - 1998: Nasdaq |
|---|---|
| Industry | Retail |
| Founded | 1949 |
| Founder | Macy Block and Herbie Block |
| Defunct | 1998 |
| Fate | Bankruptcy |
| Headquarters | , |
Area served | Northeastern United States, Midwestern United States |
Key people | Macy Block, Bob Oyster, Paul Prosser, Ed Hirsch |
| Products | Consumer electronics, home appliances, car audio sales and installation, office equipment, parts and accessories |
| Services | Repair and installation |
| Parent | ZS Sun Limited Partnership |
Sun Television and Appliances was a speciality retailer of consumer electronics, home appliances, and office equipment founded in 1949 by brothers Macy and Herbie Block. The company had stores in cities throughout the midwest, and also operated stores in rural areas of the United States, where there was no other competition[1] in Ohio, Indiana, New York, Pennsylvania, Maryland, West Virginia, Virginia and Kentucky.[1]
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 after filed for Chapter 11 bankruptcy in September 1998. After attempts to sell the company as a going concern failed,[4] The company converted to a Chapter 7 liquidation,[5] and ceased operations by the end of the year.[4] Some locations were purchased by H.H. Gregg Appliances and Electronics, and were reopened as H.H. Gregg locations.[3]
References[edit]
- ^ a b "Sun TV announces 20-store expansion". Columbus Business First. November 20, 1997. Retrieved 2006-09-29.
- ^ "Indiana chain buys Sun Television". Business First of Columbus. December 11, 1996. Retrieved 2006-09-29.
- ^ a b "H.H. Gregg takes over closed Sun TV sites". Business First of Columbus. April 12, 1999. Retrieved 2006-09-29.
- ^ a b "SUN TELEVISION: Announces Decision To Liquidate". Troubled Company Reporter. InterNet Bankruptcy Library. November 4, 1998. Retrieved 2006-09-29.
- ^ "Issue Number 44". The Dealmakers. Retrieved 26 July 2011.
External links[edit]
- Company profile (business.com)
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- Defunct consumer electronics retailers in the United States
- Defunct retail companies of the United States
- Retail companies established in 1949
- Retail companies disestablished in 1998
- Companies that filed for Chapter 11 bankruptcy in 1998
- Companies that filed for Chapter 7 bankruptcy in 1998
- Companies that have filed for Chapter 7 bankruptcy
- United States retail company stubs