October 31, 2008 by Rachel Cericola
Is this another nail for Tweeter’s coffin?
It’s unsure what is down the road for the specialty CE retailer. However, our sister site, CE Pro, says that last night, the company was sold to a liquidator. As part of the transaction, all of the distribution centers were closed, with products being sent to its stores. The move doesn’t really mean anything yet, except that the company is trying to save a few bucks—$12 million of them, actually.
CE Pro says that adding more product to each store probably means a lot less floor space for displays and demos.
All of the personnel were notified via a conference call. Tweeter has made no public comment. Twice also says that one of Tweeter’s buyers has an outgoing voice mail message stating, “They have closed the corporate offices of Tweeter.”
Tweeter recently replaced CEO George Granoff with Craig Boucher, a corporate restructuring expert.
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Over the past 15 years, Rachel Cericola has covered entertainment, web and technology trends. Check her out at www.rachelcericola.com.
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