Tweeter, for times like these… liquidate and run

Tweeter — within living memory, the crappiest Massachusetts electronics dealer this side of Radio Shack — is none-too-surprisingly going out of business, prompting exclamations of astonishment from everyone who had assumed they’d gone out of business years ago. The life support was scheduled to be yanked on December 7th. Except that wasn’t quite soon enough for Tweeter’s parent company, who instead decided to shut down all the stores yesterday, firing six hundred employees without any notice… and without paying them.

It doesn’t end there: customers have been robbed too.

The employees, including roughly 150 in Massachusetts, are still owed at least one week’s pay, vacation time, and hundreds of thousands of dollars in bonuses that were promised as part of the liquidation sale, said the managers and executives who declined to be named because they are still owed money. Customers are unable to pick up merchandise they had already purchased and the liquidators handling the closing also have not been paid. Meanwhile, there is roughly $14 million worth of goods left in the locked stores.

Tweeter also apparently sold warranties to customers after the company had already been declared bankrupt.

Tweeter demonstrates how not to handle liquidation [Crave]

This entry was posted in Uncategorized and tagged . Bookmark the permalink.

4 Responses to Tweeter, for times like these… liquidate and run

  1. urshrew says:

    I enjoy stories like these. Not because I enjoy tales of other people’s suffering, but because they remind me of why I don’t trust any authority. At all. Ever. In any way. Especially not the authority that signs my paycheck.

  2. EFDisaster says:

    I was just in one of these liquidating tweeters the other day. The staff was pretty pathetic… sitting in the last chairs, watching the last TV, not offering any kind of assistance … and the merchandise left was also not exciting

  3. SamSam says:

    “…prompting exclamations of astonishment from everyone who had assumed they’d gone out of business years ago.”

    How on Earth were you able to hear my confusion upon reading your first sentence, a day in the future no less?

  4. dculberson says:

    Hmm, isn’t it fraud to accept payment for a good or service you can’t, and don’t intend to, provide?

    UrShrew, It’s especially tough when you sign your own pay check; who the hell can I trust?! ;-)

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

 

More BB

Boing Boing Video

Flickr Pool

Digg

Wikipedia

Advertise

Displays ads via FM Tech

RSS and Email

This work is licensed under a Creative Commons License permitting non-commercial sharing with attribution. Boing Boing is a trademark of Happy Mutants LLC in the United States and other countries.

FM Tech