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Technology blog Engadget is reporting that electronics chain Tweeter Home Entertainment Group Inc. is near a second Chapter 11 filing. A second filing only 15 months after emerging from bankruptcy would reflect poorly on the special-situations investment firm Schultze Asset Management LLC, which purchased Tweeter.
The veracity of the report may be questionable, since Engadget,
which as its name implies is best known for news about the latest
electronic gadgets, is not known for bankruptcy news, or even retail
news. Nonetheless, last year it did break the story about CompUSA's liquidation ahead of not only mainstream media, but also trade publications.
If Tweeter does file, it could have company in Chapter 11 protection. KeyBanc Capital Markets analyst Bradley Thomas recently wrote that it is only a matter of time before larger rival Circuit City Stores Inc. files for Chapter 11 -- likely after the holidays. - Matthew Wurtzel CategoriesComments
From: anonymous,
They have filed bankruptcy and took our money just days before.
Posted on:
November 5, 2008 2:58 PM
From: Joe P,
Yep, the bk is in full rip off mode. They/the judge stole 2500.00 which I had down as a DEPOSIT for a TV. I have no product in my hands. I simply wrote a check right to Tweeters bankruptcy fund. Thanks alot assholes for stealing my money.
Posted on:
November 28, 2008 12:20 PM
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I heard from a couple insiders that it's going to happen soon. One of them worked for the company for a couple years and came into our store to break the news and to see if we had any job openings. It's definitely just a matter of time before Circuit goes out (at least the one in our town), I also think that will be after the holiday season. It's too bad these big box stores don't know the meaning of customer service. If they had better reputations and better management, they probably wouldn't be in this situation right now. I think what we'll see from this is the independent specialty stores and internet retailers succeeding and continuing to survive. I'm sorry that people are losing their jobs due to the economy, and due to failure to implement change quickly enough from upper management.