Ultimate Electronics to Close Stores, Hold Liquidation Sales
Ultimate Electronics filed for Chapter 11 bankruptcy protection last month. At that time the company planned to streamline operations, close underperforming stores and renegotiate leases.
The initial bankruptcy plan did not work out for Ultimate Electronics. The electronics retailer now plans to close all of its 46 stores nationwide. Home Media Magazinereports that "liquidation could begin in days and last from four to six weeks."
