Sun Television and Appliances was a speciality retailer of consumer electronics

Consumer electronics

Consumer electronics are electronic equipment intended for everyday use, most often in entertainment, communications and office productivity. Radio broadcasting in the early 20th century brought the first major consumer product, the broadcast receiver...

, home appliance

Home appliance

Home appliances are electrical/mechanical machines which accomplish some household functions, such as cooking or cleaning. Home appliances can be classified into:*Major appliances, or White goods*Small appliances, or Brown goods...

s, 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

Rural

Rural areas or the country or countryside are areas that are not urbanized, though when large areas are described, country towns and smaller cities will be included. They have a low population density, and typically much of the land is devoted to agriculture...

 areas of the United States

United States

The United States of America is a federal constitutional republic comprising fifty states and a federal district...

, where there was no other competition in Ohio

Ohio

Ohio is a Midwestern state in the United States. The 34th largest state by area in the U.S.,it is the 7th‑most populous with over 11.5 million residents, containing several major American cities and seven metropolitan areas with populations of 500,000 or more.The state's capital is Columbus...

, Indiana

Indiana

Indiana is a US state, admitted to the United States as the 19th on December 11, 1816. It is located in the Midwestern United States and Great Lakes Region. With 6,483,802 residents, the state is ranked 15th in population and 16th in population density. Indiana is ranked 38th in land area and is...

, New York

New York

New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...

, Pennsylvania

Pennsylvania

The Commonwealth of Pennsylvania is a U.S. state that is located in the Northeastern and Mid-Atlantic regions of the United States. The state borders Delaware and Maryland to the south, West Virginia to the southwest, Ohio to the west, New York and Ontario, Canada, to the north, and New Jersey to...

, Maryland

Maryland

Maryland is a U.S. state located in the Mid Atlantic region of the United States, bordering Virginia, West Virginia, and the District of Columbia to its south and west; Pennsylvania to its north; and Delaware to its east...

, West Virginia

West Virginia

West Virginia is a state in the Appalachian and Southeastern regions of the United States, bordered by Virginia to the southeast, Kentucky to the southwest, Ohio to the northwest, Pennsylvania to the northeast and Maryland to the east...

, Virginia

Virginia

The Commonwealth of Virginia , is a U.S. state on the Atlantic Coast of the Southern United States. Virginia is nicknamed the "Old Dominion" and sometimes the "Mother of Presidents" after the eight U.S. presidents born there...

 and Kentucky

Kentucky

The Commonwealth of Kentucky is a state located in the East Central United States of America. As classified by the United States Census Bureau, Kentucky is a Southern state, more specifically in the East South Central region. Kentucky is one of four U.S. states constituted as a commonwealth...

.

In late 1996, Indiana-based H.H. Gregg Appliances and Electronics

Hhgregg

hhgregg Inc. or Gregg Appliances Inc. is a publicly owned and operated appliance and electronics retailer in the Midwest, Northeast, and Southeast United States with over 3,100 employees operating stores in 16 states including Alabama, Delaware, Florida, Georgia, Illinois, Indiana, Kentucky,...

 had arranged to purchase Sun in an $

United States dollar

The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....

87.5 million deal that would have paid $5 per share to the owners of Sun's 17.5 million outstanding shares. However, H.H. Gregg withdrew from the deal over concerns regarding Sun's financial condition.

The company after filed for Chapter 11

Chapter 11, Title 11, United States Code

Chapter 11 is a chapter of the United States Bankruptcy Code, which permits reorganization under the bankruptcy laws of the United States. Chapter 11 bankruptcy is available to every business, whether organized as a corporation or sole proprietorship, and to individuals, although it is most...

 bankruptcy

Bankruptcy

Bankruptcy is a legal status of an insolvent person or an organisation, that is, one that cannot repay the debts owed to creditors. In most jurisdictions bankruptcy is imposed by a court order, often initiated by the debtor....

 in September 1998. After attempts to sell the company as a going concern

Going concern

A going concern is a business that functions without the threat of liquidation for the foreseeable future, usually regarded as at least within 12 months.-Definition of the 'going concern' concept:...

failed, The company converted to a Chapter 7 liquidation, and ceased operations by the end of the year. Some locations were purchased by H.H. Gregg Appliances and Electronics, and were reopened as H.H. Gregg locations.

External links

• Company profile (business.com)