HHGregg to leave Vernon Hills, Bob’s Discount Furniture to move in – Chicago Tribune
The HHGregg home appliance store along Townline Road in Vernon Hills is emptying its inventory before vacating the space that could soon become a Bob’s Discount Furniture, according to village officials.
Company spokesman Patrick Skertich confirmed the closure in a written statement to Pioneer Press. He said the decision is part of a “natural course of business” in which companies evaluate their future goals and existing assets.
“This closing, along with the recent announcement of restructuring our distribution network, allows us to continue driving the company towards profitability and growth with our launch of 25-to-30 new Fine Lines specialty store openings over the next two years,” the statement reads.
Skertich said the HHGregg store is expected to close by mid-October, and none of the new Fine Lines stores will be opening in this area.
Bob’s Discount Furniture is looking to takeover after HH Gregg leaves, according to Assistant Village Manager Joe Carey. Company officials are scheduled to show their plans to the Village Board on Sept. 20, he said.
“It’s my understanding they are taking over a number of HH Gregg locations,” Carey said, noting that the Vernon Hills store is 29,000 square feet.
Bob’s Discount Furniture sells household furniture items like beds, couches, shelves and tables, and recently opened in Skokie, according to its website. Otherwise, the closest location is in Schaumburg.
HHGregg opened in Vernon Hills in 2011 as part of the village’s efforts to fill the numerous storefronts vacated by major retailers. Vernon Hills approved a series of sales tax rebate agreements to help attract new stores.
After Plunkett left Townline Commons, the shopping center asked Vernon Hills for $603,000 to be split among electrical upgrades, HVAC replacements, parking lot repairs and various other renovations, according to public documents.
Vernon Hills agreed to rebate half of the sales tax HHGregg would generate for up to 10 years or until the rebate was fulfilled.
Nikki Larson, Vernon Hills finance director, said the shopping center was given rebated money due to sales at HHGregg, but she declined to provide figures due to IRS privacy rules. Larson said the maximum rebate amount was not reached.
Carey said the incentive agreement was tied to HHGregg, but the village and shopping center owner are reviewing the document to determine if it will rollover with a new tenant.
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