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DOW Stereo/Video

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This article is about the former retail brand. For the loudspeaker component, see Tweeter. For social media platform with a similar name9, see Twitter. For other meanings, see Tweeter (disambiguation).
"Douglas TV" redirects here. For TV topics "Douglas", see Douglas (disambiguation).

Template:Use mdy dates

TWTR Inc.
FormerlyTweeter Opco
Tweeter Home Entertainment Inc.
Company typeLimited liability company (Tweeter Opco)
Corporation (TWTR Inc.)
IndustryConsumer electronics retail
FoundedMay 1, 1972; 54 years ago (1972-05-01) (Boston)
FounderSandy Bloomberg, Michael Bloomberg
DefunctTemplate:End date and age
FateChapter 11 Bankruptcy and Liquidation
HeadquartersCanton, MA
Number of locations
100 (at closure)
File:2008-08-11 Tweeter store in Durham.jpg
Tweeter location in Durham, North Carolina.

Tweeter, previously known as Tweeter Etc. and Tweeter Home Entertainment, specialized in retailing mid-range to premium consumer electronics such as flat panel televisions, plasma TVs, car radio units, home theater systems, and GPS devices. The company also emphasized custom installation services for both residential and automotive electronic systems.

Operating over 100 outlets across 18 U.S. states, primarily along the East Coast but also reaching markets in Illinois, Texas, California, Nevada, and Arizona, the business traded under several brands including Tweeter, HiFi Buys, Showcase Home Entertainment, and Sound Advice.

Sandy and Michael Bloomberg established the first store near Boston in 1972, rapidly growing throughout the New England region.[1]

Tweeter’s growth strategy heavily involved acquisitions, starting with Bryn Mawr Stereo in 1996.[2][3] In 1997, it acquired HiFi Buys based in Atlanta,[4][5] followed by DOW Stereo/Video from San Diego in 1999,[6][7] United Audio Center in Chicago was added in 2000,[8][9] along with Douglas TV stores[10][11][12] and Florida’s Sound Advice in 2001.[13][14] These purchases provided Tweeter with immediate access to markets in the Southeast and Midwest amid a strong housing market.

In March of 2007, the retailer announced plans to shut down 49 locations and reduce its workforce by approximately 650 employees; this included closing all California outlets and most stores throughout the Southeast.[15] By June that year, Tweeter Home Entertainment filed for Chapter 11 bankruptcy protection; after an unsuccessful restructuring attempt, Schultze Asset Management acquired its assets at auction on July 13, subsequently reorganizing the business as Tweeter Opco LLC.[16]

Following efforts to revive operations under Tweeter Opco LLC, the company again sought Chapter 11 bankruptcy protection on November 5, 2008.[16] Before filing, liquidation sales had commenced ahead of the holiday season; however, disagreements among creditors over funding for continued operations led to a complete shutdown on December 3. All approximately 600 employees were terminated as the case was converted from Chapter 11 reorganization to Chapter 7 liquidation.[17] Customers who had paid deposits or purchased merchandise found their funds tied up as part of frozen assets,[18] forcing them to file claims as creditors during the liquidation process.[19]

TWTR Inc.

After the initial Chapter 11 bankruptcy filing in 2007 and the subsequent transfer of assets to Schultze, the original Tweeter entity (which had become a shell company) continued to operate under the new name TWTR Inc..[20]

On October 4, 2013—over six years after disposing of its assets and nearly five years following the permanent closure of the Tweeter retail chain—shares of TWTR Inc. (then still trading under the symbol "TWTRQ") surged dramatically, reaching prices up to 1,500% higher than the previous day's close (rising from US$0.007 to $0.15). Trading was suspended at 12:42 p.m. EDT, with the stock ultimately closing at $0.051, marking an increase exceeding 684%. This spike occurred shortly after Twitter, Inc. disclosed its initial public offering documents the day before, announcing plans to adopt the ticker symbol "TWTR"—the same identifier formerly used by Tweeter prior to its bankruptcy filing—resulting in confusion among some market participants.[21] Shortly following this event, the company altered its ticker symbol to "THEGQ". The corporation was officially dissolved on April 23, 2014.[22]

  1. ↑ Lua error in Module:Citation/CS1/Configuration at line 2123: attempt to index field '?' (a nil value).
  2. ↑ Lua error in Module:Citation/CS1/Configuration at line 2123: attempt to index field '?' (a nil value).Template:Fix/category[dead link]
  3. ↑ Lua error in Module:Citation/CS1/Configuration at line 2123: attempt to index field '?' (a nil value).
  4. ↑ Lua error in Module:Citation/CS1/Configuration at line 2123: attempt to index field '?' (a nil value).
  5. ↑ Lua error in Module:Citation/CS1/Configuration at line 2123: attempt to index field '?' (a nil value).
  6. ↑ Lua error in Module:Citation/CS1/Configuration at line 2123: attempt to index field '?' (a nil value).
  7. ↑ Lua error in Module:Citation/CS1/Configuration at line 2123: attempt to index field '?' (a nil value).
  8. ↑ Lua error in Module:Citation/CS1/Configuration at line 2123: attempt to index field '?' (a nil value).
  9. ↑ Lua error in Module:Citation/CS1/Configuration at line 2123: attempt to index field '?' (a nil value).
  10. ↑ Lua error in Module:Citation/CS1/Configuration at line 2123: attempt to index field '?' (a nil value).
  11. ↑ Lua error in Module:Citation/CS1/Configuration at line 2123: attempt to index field '?' (a nil value).
  12. ↑ Lua error in Module:Citation/CS1/Configuration at line 2123: attempt to index field '?' (a nil value).
  13. ↑ Lua error in Module:Citation/CS1/Configuration at line 2123: attempt to index field '?' (a nil value).
  14. ↑ Lua error in Module:Citation/CS1/Configuration at line 2123: attempt to index field '?' (a nil value).
  15. ↑ Lua error in Module:Citation/CS1/Configuration at line 2123: attempt to index field '?' (a nil value).
  16. ↑ 16.0 16.1 Lua error in Module:Citation/CS1/Configuration at line 2123: attempt to index field '?' (a nil value).
  17. ↑ Lua error in Module:Citation/CS1/Configuration at line 2123: attempt to index field '?' (a nil value).
  18. ↑ Lua error in Module:Citation/CS1/Configuration at line 2123: attempt to index field '?' (a nil value).
  19. ↑ Lua error in Module:Citation/CS1/Configuration at line 2123: attempt to index field '?' (a nil value).
  20. ↑ Lua error in Module:Citation/CS1/Configuration at line 2123: attempt to index field '?' (a nil value).
  21. ↑ Lua error in Module:Citation/CS1/Configuration at line 2123: attempt to index field '?' (a nil value).
  22. ↑ https://www.sec.gov/files/litigation/admin/2014/34-71996.pdf
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