What Went Wrong at Tweeter?
What caused formerly strong retailer Tweeter to collapse?
According to a report issued this week by The Stratecon Group the retailer, which began a liquidation process earlier this month, the company’s demise was a confluence of several factors. These included failure of the company’s many parts to get along and stay on the same page, lack of effective integration between parts of the company brought together by mergers; overexpansion, as well as difficulty handling its “middle road” market position.
Also according to Stratecon, Tweeter owes something between $50 and $100 million in liabilities and the list of unsecured creditors is a virtual who’s who of top electronics brands. Sony is owed $1.73 million, Samsung $865,555, Pioneer $554,814, Panasonic $276,749 and Mitsubishi $193,025.