Thursday, November 13, 2008

Home Theater Retailer Woes Continue

Sound Advice Home Theater Retailer Latest Chain to Close Doors

Home Theater News Industry-Trade News
Written by
Wednesday, 12 November 2008

This economy is taking its toll on home theater specialty retailers. First, Tower Records went out of business. Then, Tweeter files for bankruptcy and its eventual new owners pulled the plug. Circuit City seems to be in trouble, recently announcing the closing of several of their stores.

Now, Sound Advice, a Florida-based home theater retailer has called it quits. They will be closing all 22 of their stores by year's end. Their liquidation sale started last Wednesday and will continue through until after the holidays. They are currently offering 10 percent off TVs, 20 percent off speakers and 40 percent off cables and accessories.

Sound Advice employs about 50 workers, which is about 30 fewer than were working there a year ago. The stores have stopped accepting checks, selling gift cards, warranties, etc.

Sound Advice was acquired for $61 million in 2001 by Tweeter, so it was probably not a stretch of the imagination that Sound Advice would eventually close.