Tweeter Opco, the company that operates the 94-store Tweeter electronics chain, filed Chapter 11 bankruptcy on Nov. 5 at the U.S. Bankruptcy Court for the District of Delaware.

The Canton, MA-based retailer listed assets and liabilities between $50-$100 million in it filing. Tweeter largest unsecured creditors include electronics manufacturers Sony, Samsung and Pioneer. According to Reuters, the company said it faced "a severe liquidity crisis brought on by slow sales" and was filing bankruptcy to "preserve and maximize the value" of its estate.

Tweeter has already begun liquidating inventory at the stores, a process being jointly handled by SB Capital Group, Tiger Capital Group and Hudson Capital Partners. Tweeter's 94 stores are located in AZ, CT, DE, FL, GA, IL, ME, MD, MA, NH, NJ, NC, PA, RI, SC, TX, and VA.

RCS Real Estate Advisors will handle the disposition of Tweeter's real estate.

According to CoStar Tenant, the typical Tweeter store is 10,000 square feet. The company leases an 80,000-square-foot distribution center in Valley Forge Corporate Center in Audubon, PA and also leases 64,000 square feet of warehouse space on Little York Road from ProLogis in the Northwest Industrial area of Houston.

Schulze Asset Management acquired tweeter as part of a bankruptcy auction on July 13, 2007 for $38 million. The retailer filed Chapter 11 in early June after a failed restructuring plan that included the closure of 49 stores.

Since being acquired, the retailer attempted to revive the chain by updating stores to a more experiential design, dubbed CE Playground.

This article appears in CoStar's Retail News Roundup: Nov. 9 to 15, 2008, a weekly column covering retail store expansions, closings, bankruptcies, acquisitions/mergers/sales, new retail developments, personnel changes, sustainability, and more.

This week in the Retail Roundup, CoStar reports on expansions or new concepts at Zounds and Great Gatherings; new retail developments in FL, KS and MI; acquisition, merger, loan or sale activity at Cole Real Estate and DDR, Whole Foods Market and Leonard Green, Boscov's, SCI Real Estate, Simon Property Group and GGP, and Talbots and J. Jill; closings, cutbacks or bankruptcies at Circuit City, Tweeter, Saks, La-Z-Boy, and WaMu; personnel announcements at Winick Realty and West Valley Properties / Rawson, Blum & Leon; Green Building news at Supervalu, and more.