Anyone catch what's goin' on at Tweeter?..deals?


Is anyone keeping track of what's happening in the Tweeter Bankruptcy/Liquidation situation?
I think it's noteworthy, as an audio/video electronics shopper and former retail av guy myself, that it all can and likely will happen in retail eventually! Apperently you've got employees and paying customers alike, whom Tweeter owed money and or merchandise, that's locked in limbo in the situation! That's gotta blow!
Anyway, maybe there will be a deal or two to be had if they open their doors to blow out some merchandise (we'll see if the liquidation deals(?) are anything to write home about, like they were when Comp USA closed stores). Also, wonder if Circuit will have any scavenger specials here soon?

http://www.cepro.com/article/what_tweeter_still_owes_employees/K293
iplaynaked

Showing 3 responses by swampwalker

IME, if they sell it out of the store they will start at 10- 20% off full MSRP and work their way down from there. By the time they get to a realistic discount from street price, there will only be bones left on the carcass! Its kind of like flea-bay where you see used stuff selling for more than average street price. Lots of advertising to draw in the suck...I mean customers!
Tweeter was under Chapter 11 bankruptcy (re-organization) and then overnight they shifted to Chapter 7 (liquidation) and requested that all employees, warranty holders, customers w deposits, etc be put in line w all other unsecured creditors, which in practical terms means they will get diddly-squat. Some state AGs are opposing that move and it remains to be seen what will eventually happen. If they bring a liquidator in, its unlikely that there will be any "real deals", IME.
By liquidator, I mean someone who goes in and sells the stuff out of the retail locations. They hire kids to stand on the street with those big yellow and black signs and buy ads in the papers. They will gradually cut prices 10% at a time, and they depend on what I would call charitably call uneducated consumers. This is what has been done at numerous retail chains including recently one of those linens places. By the time they get to a price that beats the internet there is usually nothing of any value left. Now I don't know if that's what they will do, but I wouldn't be surprised.