Tweeter Abruptly Shuts Down, Seeks Ch. 7

Law360, New York (December 3, 2008, 12:00 AM EST) -- Bankrupt consumer electronics retailer Tweeter Opco LLC has asked to convert its Chapter 11 bankruptcy to Chapter 7 and has abruptly closed all its stores and laid off all its employees, saying it lacks the funds to continue operating.

In a motion filed Tuesday in the U.S. Bankruptcy Court for the District of Delaware, Tweeter asked the court to convert its case and appoint a Chapter 7 trustee so that the company could be liquidated quickly.

Tweeter said that it closed its stores and fired its...
To view the full article, register now.