Friday, July 13, 2007

Tweeter sold to Shultze Asset Management for $38 million



Schultze Asset Management, an investment firm specializing in distressed situations, placed the winning $38 million cash bid to acquire all of the assets of Tweeter Home Entertainment Group.
Tweeter is seeking court approval for the transaction this morning at the U.S. Bankruptcy Court in Wilmington, Del. If approved, the sale of the specialty A/V will likely close later today.
Tweeter said it will continue normal operations pending completion of the acquisition.


Best wishes to Tweeter and the turnaround experts who just bought them. They have a lot of work to do.

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