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
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