Back In Bankruptcy, Tweeter Prepares To Liquidate

Law360, New York (November 5, 2008, 12:00 AM EST) -- For the second time in 18 months, consumer electronics chain Tweeter Opco LLC has filed for Chapter 11 bankruptcy protection and is now preparing for liquidation.

The petition, lodged Wednesday in the U.S. Bankruptcy Court for the District of Delaware, was filed jointly for Tweeter’s several entities, including Tweeter Newco LLC, which Schultze Asset Management Inc. acquired in July 2007 for $38 million.

Liquidators Hudson Capital Partners and Tiger Capital have bought Tweeter, the Boston Globe reported.

The petition cited between $50 million and $100 million...
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