Bryn Mawr Stereo

This article is about the defunct retail chain. For the loudspeaker driver, see Tweeter. For social networking site of similar name9, see Twitter. For other uses, see Tweeter (disambiguation).

"Douglas TV" redirects here. For TV topics "Douglas", see Douglas (disambiguation).

TWTR Inc.

File:Tweeterlogo.png
Formerly	Tweeter Opco Tweeter Home Entertainment Inc.
Company type	Limited liability company (Tweeter Opco) Corporation (TWTR Inc.)
Industry	Consumer electronics retail
Founded	May 1, 1972 (1972-05-01) (Boston)
Founder	Sandy Bloomberg, Michael Bloomberg
Defunct	Template:End date and age
Fate	Chapter 11 Bankruptcy and Liquidation
Headquarters	Canton, MA
Number of locations	100 (at time of closure)

File:2008-08-11 Tweeter store in Durham.jpg

Tweeter retail location in Durham, North Carolina.

Tweeter, previously known as Tweeter Etc. and Tweeter Home Entertainment, operated as a specialty retailer focusing on mid-range to premium consumer electronics such as flat panel TVs, plasma TVs, car radios, home theater systems, GPS devices, among others. The company also specialized in custom electronic installations for both residential and automotive customers.

At its peak, Tweeter maintained over 100 outlets across 18 states in the U.S., predominantly situated along the East Coast but also present in markets like Illinois, Texas, California, Nevada, and Arizona. These stores operated under various brand names including Tweeter, HiFi Buys, Showcase Home Entertainment, and Sound Advice.

Established by Sandy and Michael Bloomberg with the first store opening in the Boston vicinity in 1972, the business rapidly expanded throughout the New England region.

Growth was largely driven by acquisitions beginning with Bryn Mawr Stereo in 1996. This was followed by the acquisition of Atlanta-based HiFi Buys in 1997, San Diego’s DOW Stereo/Video in 1999, Chicago-based United Audio Center and Douglas TV stores during the year 2000; followed by Florida-based Sound Advice in 2001. These strategic purchases allowed Tweeter to establish a strong foothold in both the Southeastern and Midwestern markets amid a thriving housing economy.

In March of 2007, Tweeter declared it would close 49 stores and lay off approximately 650 workers; this included shutting down all locations within California as well as most outlets across the Southeast. By June that same year, Tweeter Home Entertainment sought protection under Chapter 11 bankruptcy laws. Subsequently, Schultze Asset Management acquired its assets at auction on July 13, after an unsuccessful restructuring attempt. Following this acquisition, Schultze restructured the enterprise under the new entity Tweeter Opco LLC.

Despite efforts to revive operations, Tweeter Opco filed for Chapter 11 bankruptcy again on November 5, 2008. Prior to this filing, liquidation sales had commenced ahead of the holiday season. However, disagreements among creditors regarding funding for ongoing sales led to a complete shutdown of all stores on December 3, resulting in the termination of about 600 employees. The company then converted its bankruptcy case from Chapter 11 reorganization to Chapter 7 liquidation. Customers who had prepaid for merchandise or made deposits found their funds tied up among frozen assets, which ultimately compelled them to seek creditor status during liquidation proceedings.

TWTR Inc.

After the initial Chapter 11 bankruptcy filing in 2007 and the subsequent transfer of assets to Schultze, the original Tweeter entity—now functioning as a shell company—continued operations under the new name TWTR Inc..

On October 4, 2013, more than six years post-asset sale and nearly five years following the permanent closure of the Tweeter retail chain, shares of TWTR Inc. (then still identified by the ticker "TWTRQ") experienced a dramatic surge, reaching prices up to 1,500% higher than the previous day's close (rising from approximately US$0.007 to $0.15). Trading was suspended at 12:42 p.m. EDT, with the stock eventually settling at $0.051, reflecting an increase exceeding 684%. This spike coincided with Twitter, Inc.'s release of its initial public offering documentation the day before, which announced its intention to adopt the ticker symbol "TWTR"—the same symbol formerly used by Tweeter prior to its bankruptcy proceedings—leading to investor confusion. Shortly after this event, the ticker for TWTR Inc. was updated to "THEGQ". The company was formally dissolved on April 23, 2014.