Re: What exactly was so unusual about Hechinger's lumber yards?
Posted by:
sasb
()
Date: July 12, 2015 12:03PM
the more you know Wrote:
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> Edit
>
> John Hechinger, Sr. helped pioneer the
> do-it-yourself industry; from a single hardware
> store established by his father (Sidney) in 1911,
> Hechinger grew to a 64-store chain by the time it
> acquired Virginia Beach, Virginia-based HQ Home
> Quarters Warehouse in December 1987 for $66
> million. In the 1980s, it underwent a massive
> expansion of both HQ and the Hechinger Co.
> divisions, opening big-box stores to better
> compete with rivals Home Depot and Lowe's.
>
> Hechinger was one of the first sponsors of network
> television news in the early 1950s, when
> television was in its infancy. Their sponsorship
> of the 11:00 p.m. newscast at T.V. station WTOP
> in Washington, D.C., was a first, according to
> Walter Cronkite (an anchor of those broadcasts) in
> his autobiography A Reporter's Life. Walter
> Cronkite also reported that the products of this
> particular business, such as sheet rock, tools,
> and other appliances, did not compare to their
> competitors' quality of products. Therefore, he
> did not recommend the use or purchase of these
> products due to the nature of their insufficient
> qualities.[citation needed]
>
> 1980s-1990sEdit
> Hechinger continued to lose money in the 1980s,
> however. The Hechinger family sold the company to
> Los Angeles, California-based investors Leonard
> Green & Partners for $507 million in July 1997,
> and the management launched new, smaller concept
> stores called Better Spaces and Wye River Hardware
> & Home, searching for a niche. Hechinger was
> merged with San Antonio, Texas-based Builders
> Square, formerly owned by Kmart.
>
> Bankruptcy and demiseEdit
> After several rounds of store closings, the
> Hechinger Company filed for Chapter 11 bankruptcy
> protection on June 11, 1999, but the
> reorganization failed. Later that year, in
> September 1999, Hechinger's assets were
> liquidated, including its 117 remaining stores.
>
> Online revivalEdit
> In 2004, Home Decor Products bought the Hechinger
> brand name and opened an online retailer the
> following year,[1] which sold the same products as
> the former brand. On February 5, 2009, it was
> announced that the site would shut down and
> Hechinger would no longer sell tools. The site
> closed shortly thereafter.
John Hechinger was on the board of directors of Handgun Control Inc.,
the forerunner of the Violence Policy Center. (Brady Bunch) Once I found out
I never spent another dime in their stores. He was also a strong advocate
of home rule for the District, one of the stupidest ideas around. I know
Marion Barry would have loved to have been called, "Senator" but lets be
serious. Jessie and Al would be moving to DC just to line their own pockets.
"Governor" Sharon Pratt-Dixon? Laughable at best.