All Articles Tagged Bankruptcy

Jason Knott | 02/15 07:44 AM, 0 Comments

Forty-year-old Ultimate Electronics started its liquidation on February 12, 2011 and will continue until all merchandise has been sold, with some merchandise up to 30 percent off their original prices. Merchandise including high definition televisions, computers, home theater and audio systems, video equipment, digital cameras and GPS devices from brands such as Bose, Sony, Mitsubishi, Samsung, Canon and Nikon are being liquidated. Click here for a full list of CE vendors affected. Home appliances are also available in most locations. Store fixtures such as apparel racks, shelving, lighting, cabinets and… View this story

Tom LeBlanc | 01/15 08:07 AM, 0 Comments

Another long-time electronics retailer appears to have fallen victim to a rough economy. Connecticut-based electronics retailer Bernie’s, which was founded in 1947, has filed for Chapter 11 bankruptcy protection and plans to close its 15 stores, according to the Associated Press. With 350 employees, Bernie’s has nine stores in Connecticut, five in Massachusetts and one in Rhode Island. An attorney for Bernie’s made the announcement via a news release. The company says the economy and a “challenging retail environment” led to the bankruptcy filing. As part of the bankruptcy filing,… View this story

Steve Crowe | 12/18 07:16 AM,

Nortek and its domestic subsidiaries have collectively emerged from bankruptcy and eliminated approximately $1.3 billion of debt, the company announced in a statement. Nortek, which filed chapter 11 on October 21, 2009, has a $250 million asset-backed credit facility that it can now use for general business operations. In early December 2009, Judge Kevin J. Carey of the United States Bankruptcy Court for the District of Delaware approved Nortek's chapter 11 bankruptcy plans for NTK Holdings, Inc., Nortek Holdings, Inc., Nortek, Inc., and Nortek's domestic subsidiaries. Nortek owns several prominent… View this story

Julie Jacobson | 12/05 09:59 AM, 1 Comment

Nortek is well on the way to reorganization after its chapter 11 bankruptcy plans were approved on December 3. The approval was granted by the US Bankruptcy Court for the District of Delaware for NTK Holdings, Inc., Nortek Holdings, Inc., Nortek, Inc., and Nortek’s domestic subsidiaries. Those subsidiaries include a group of electronics companies collectively known as Home Technologies Products (HTP), operated by Linear LLC: ELAN Home Systems, Gefen, HomeLogic, Imerge, Linear, LiteTouch, Niles Audio, OmniMount, Panamax, SpeakerCraft, Sunfire, Xantech and others. The Court's approval of the Nortek reorganization follows… View this story