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Ultimate Electronics Prepared to Liquidate
Massive sale to follow after the troubled retailer recently filed for bankruptcy for the second time in six years.
Ultimate Acquisition Partners, parent company of Ultimate Electronics, has asked the U.S. Bankruptcy Court for permission to liquidate. The Colorado-based retailer is preparing to permanently close the doors to all 46 stores nationwide, according to multiple media outlets.
The request comes shortly after the popular electronics retailer filed bankruptcy for the second time in six years.
A massive liquidation sale could result in substantial savings for consumers, with the retailer slashing prices until all inventory is gone. Experts predict the liquidation sale would be similar to that of Circuit City in 2009.
While in the short-term consumers will reap the benefits of steeply discounted merchandise, they may ultimately end up paying a higher price for goods as big-box competition continues to dwindle.
Ultimate Electronics' debt is listed in the $100 million-to-$500 million range.
The request comes shortly after the popular electronics retailer filed bankruptcy for the second time in six years.
A massive liquidation sale could result in substantial savings for consumers, with the retailer slashing prices until all inventory is gone. Experts predict the liquidation sale would be similar to that of Circuit City in 2009.
While in the short-term consumers will reap the benefits of steeply discounted merchandise, they may ultimately end up paying a higher price for goods as big-box competition continues to dwindle.
Ultimate Electronics' debt is listed in the $100 million-to-$500 million range.
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About the Author
Maxine is an assistant web editor for cepro.com. She graduated from Emerson College with a M.A. in journalism and Endicott College with a B.S. in communications. She joined EH Publishing in 2011.
3 Comments (displayed in order by date/time)
Betcha Mark Wattles is still plenty solvent! Hmmm, when you combine this and Hollywood Video, he may have set a new CE bankruptcy record.
well their web site is still under construction. so I wouldn’t expect too much
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Deals similar to Circuit City? You mean the items sold at CC that cost more than what I could find online via a quick cell phone search? Uh huh.