The Tweeter electronics store chain went out of business, first filing for Chapter 11 bankruptcy in 2007, closing many stores, and then liquidating completely in late 2008 after a second bankruptcy filing, shutting down all remaining locations and firing employees amidst struggles with big-box competition and economic downturn. The company ceased operations entirely in December 2008, leaving customers and employees with unresolved claims for warranties and wages, as reported by www.cepro.com and Reuters.

Key Events in Tweeter's Discontinuation:

2007: Filed for Chapter 11 bankruptcy, closing 49 stores and exiting markets like California.

2008 (November): Filed for Chapter 11 again after assets were purchased by Schultze Asset Management in 2007.

2008 (December 3): Abruptly closed all remaining 94 stores and fired all employees, unable to fund ongoing store-closing sales.

Liquidation: Converted to a Chapter 7 liquidation, meaning assets were sold off to pay creditors.

Reasons for Failure:

Intense Competition: Struggled against larger retailers like Best Buy, Circuit City, and Walmart.

Economic Downturn: The 2008 recession led consumers to seek discounts, hurting Tweeter's premium-priced model.

Corporate Mismanagement: Issues with restructuring and managing the business led to its downfall.