Home Quarters Warehouse (HQ) was an American chain of " big-box"

home improvement The concept of home improvement, home renovation or remodeling is the process of renovating, making improvements or making additions to one's home. Home improvement can consist of projects that upgrade an existing home interior (such as electr ...

stores, originally based in

Virginia Beach, Virginia Virginia Beach (colloquially VB) is the most populous city in the U.S. commonwealth of Virginia. The city is located on the Atlantic Ocean at the mouth of the Chesapeake Bay in southeastern Virginia. It is the sixth-most populous city in the ...

. In 1984, the chemical manufacturing company W.R. Grace & Co. announced its intentions to enter the home improvement retail business, hiring Bernard R. Kossar and Frank Doczi to head the new chain.

History

The first Home Quarters stores opened in February 1985 in Virginia Beach and

Hampton, Virginia Hampton is an independent city (United States), independent city in the Commonwealth of Virginia in the United States. The population was 137,148 as of the 2020 United States census, 2020 census, making it the List of cities in Virginia, seve ...

. Grace spun off HQ in 1986, and in October 1987 HQ was in the midst of doing an IPO when "

Black Monday Black Monday refers to specific Mondays when undesirable or turbulent events have occurred. It has been used to designate massacres, military battles, and stock market crashes. Historic events *1209, Dublin – when a group of 500 recently arriv ...

" occurred. The SEC put a moratorium on any

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investm ...

(IPO) until the stock market stabilized. In December 1987,

Hechinger The Hechinger Company was an American chain of home-improvement centers headquartered in Landover, Maryland, on the immediate outskirts of Washington, D.C., from 1911 to 1999. It was also an online retailer owned by Home Decor Products from 2 ...

agreed to buy HQ for $66 million (~$ in ). The merger was completed in February 1988, with Frank Doczi left in charge of the Home Quarters division (Kossar moves on to found OW Office Warehouse, an office supply store that used a logo and branding similar to that of HQ). Under Hechinger, HQ expanded to much of the

United States The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 ...

as a viable competitor to

Home Depot The Home Depot, Inc., often referred to as Home Depot, is an American multinational corporation, multinational home improvement retail corporation that sells tools, construction products, appliances, and services, including fuel and transportat ...

Lowe's Lowe's Companies, Inc. ( ) is an American retail company specializing in home improvement. Headquartered in Mooresville, North Carolina, the company operates a chain of retail stores in the United States. As of October 28, 2022, Lowe's and i ...

, and

Builders Square Builders Square was a big-box home improvement retailer headquartered in San Antonio, Texas. A subsidiary of Kmart, its format was quite similar to The Home Depot, Menards, and Lowe's with floor space of about , and inventories in excess of 35 ...

Merger

By 1995 its parent company Hechinger was facing financial trouble and began to scale back its operations, including moving HQ's headquarters from Virginia Beach to Hechinger's main office in

Landover, Maryland Landover is an unincorporated community and census-designated place in Prince George's County, Maryland, United States. As of the 2020 census, it had a population of 25,998. Landover is contained between Sheriff Road and Central Avenue to the ...

. The

family sold the company to

Los Angeles Los Angeles, often referred to by its initials L.A., is the List of municipalities in California, most populous city in the U.S. state of California, and the commercial, Financial District, Los Angeles, financial, and Culture of Los Angeles, ...

investors Leonard Green & Partners for $507 million (~$ in ) in July 1997, and the new management launched new, smaller concept stores called Better Spaces and Wye River Hardware & Home searching for a niche. In September, Hechinger/HQ was merged with

San Antonio, Texas San Antonio ( ; Spanish for "Anthony of Padua, Saint Anthony") is a city in the U.S. state of Texas and the most populous city in Greater San Antonio. San Antonio is the List of Texas metropolitan areas, third-largest metropolitan area in Texa ...

-based

, formerly owned by Kmart.

Liquidation

After several rounds of store closings, Hechinger Co. and Home Quarters Warehouse filed for

Chapter 11 Chapter 11 of the United States Bankruptcy Code ( Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, w ...

bankruptcy Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the deb ...

protection on June 11, 1999, but the reorganization failed. That September, Hechinger's assets were liquidated, including its 117 remaining stores.

References

{{reflist * Golubovskis, George.
Hechinger no longer our hometown store
" ''Washington Business Journal'', July 18, 1997 *

" ''

The Washington Post ''The Washington Post'', locally known as ''The'' ''Post'' and, informally, ''WaPo'' or ''WP'', is an American daily newspaper published in Washington, D.C., the national capital. It is the most widely circulated newspaper in the Washington m ...

'', April 28, 1997. *
100 JOBS LOST IN HECHINGER OVERHAUL
" ''

The Virginian-Pilot ''The Virginian-Pilot'' is the daily newspaper for Hampton Roads, Virginia. Commonly known as ''The Pilot'', it is Virginia's largest daily. It serves the five cities of South Hampton Roads as well as several smaller towns across southeast Virgi ...

'' August 24, 1995.

External links

Mirror CabinetShowroom Furniture
1984 establishments in Virginia Defunct companies based in Virginia Retail companies established in 1984 American companies established in 1984 Companies based in Virginia Beach, Virginia Home improvement retailers of the United States Defunct retail companies of the United States Companies that filed for Chapter 11 bankruptcy in 1999 Retail companies disestablished in 1999 1999 disestablishments in Virginia

History

Merger

Liquidation

See also

References

External links