Tweeter Home Entertainment closing Sound Advice stores
Tampa Bay Business Journal - by Robert Yaniz Editorial assistant
Sound Advice is shutting down 94 stores nationwide within the next few weeks.
Parent company Tweeter Home Entertainment Group announced the closings after filing for Chapter 11 bankruptcy for the second time in less than a year. The company, based in Canton, Mass., has retained Hudson Capital Partners LLC to handle its liquidation.
Although calls to Tweeter were unanswered, a manager at the Clearwater location confirmed that Sound Advice is closing all its stores company-wide, including all five of its Tampa Bay area locations.
Tweeter filed for bankruptcy in June with a debt of $165 million, but New York investment firm Schultze Asset Management LLC bought the company out of bankruptcy for $38 million.
Shares of Tweeter (TWTRQ.PK) were trading at 0.0018 on Friday morning but were at 0.05 a year ago.
This news follows reports earlier this week that Circuit City is closing 155 stores, though its 12 Bay area locations will not be affected.
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