According to an article in the Associated Press (AP), Tweeter Home Entertainment Group, inc filed for Chapter 11 bankruptcy protection on Monday. Officials say they took this measure to recover from a bruising price war for flat-screen televisions but said they expected to continue normal business operations as they reorganize. On the same note, Circuit City also isn’t doing too hot with their lay off of over 3,500 skilled employees. With these turn of events, one can’t help but wonder if we are doomed to getting our dose of hifi at chain department stores like Target or Walmart.
I will continue to get my "dose of HiFi" through reading online audio and video reviews, discussion forums, and then buying the products online. I have not once been disappointed with my electronics purchases performed online after doing thorough research first. I have not once been disappointed with the huge savings I have gotten from doing this. B&B retailers will never be completely gone, some people still need them as they require some in person guidance.
I have 19 speakers, two subs, two receivers, etc. The last major electronics purchase I made in a store was a yamaha pro logic receiver!
This frankly is no skin off my back.
Thanks,
Pat
__________________ Basement HT/Bar System
Yamaha RXV-661 Receiver
Polk Audio R300 mains
Polk Audio CSI25 center
HTD middies side surround
HTD HD-65 in ceiling rears
SVS 20-31 Plus subwoofer
Panasonic PT-AX100U 720p projector
Toshiba A2 HD DVD player
Custom 92 inch Designer White Laminate Fixed Screen
AMD Sempron 64 HTPC audio server
Scientific Atlanta 8300HD DVR
PS3 40GB
Im pretty sure best buy wont be going anywhere soon, they keep opening new stores, and hiring more employees. But as far as purchases go you cant really get anything too high end at these stores anyways. I bought my current setup through best buy because i work there and it has been enough to hold me over for the past couple of years. I will dread the day when wall mart is the only place to go to get anything, hopefully that will never happen or hopefully i will die before that happens.
I guess I don't find this news too surprising. In fact, I've kind of expected it. It will be interesting to see how Tweeter does through this Chapter 11 escapade. My wife worked in retail some years back and her employer filed Chapter 11 protection. The old vendors that they had dealt with, would no longer deal with them. Plus, their purchases of merchandise had to be in cash, because none of the vendors would offer credit to them. Things might be different with electronics, but I'll be willing to be that the landscape at your local Tweeter store might change quite a bit through this process. Whether the changes are positive, or negative, it all remains to be seen.
According to an article in the Associated Press (AP), Tweeter Home Entertainment Group, inc filed for Chapter 11 bankruptcy protection on Monday. Officials say they took this measure to recover from a bruising price war for flat-screen televisions but said they expected to continue normal business operations as they reorganize. On the same note, Circuit City also isn’t doing too hot with their lay off of over 3,500 skilled employees. With these turn of events, one can’t help but wonder if we are doomed to getting our dose of hifi at chain department stores like Target or Walmart.
This is pretty grim, competition wise. Circuit City is pretty lame in my area, Tweeters OK but pricey but when CC goes down (which seem inevitable), and Tweeters dead, there will be nothing left but Best Buy. Not good.
Electronics Retailer Tweeter Seeks Chapter 11 Protection
Nope
Linear Mode
