[Rob Babcock]

This is quite a bummer.  Ulitmate Electronics has not only filed for bankruptcy, but may not be able to operate thru the month!   Apparently sales have been horrible and they're getting killed by the competition from CC, BB and Wal-Mart.

Truly a shame, since they have products well above those other stores, especially where higher end video is concerned.  I wonder if their decision to carry car stereo and computer gear was a contibuting factor- they gotta be getting killed on that stuff.

[cryoparts]

Actually, they have a "debtor in posession" financing deal worked out with the former CEO of Hollywood Video (Mark Wattles) and their bank.  Looks like they might be able to turn it around with this new agreement.  

I hear it was pretty grim for a while, though.

Car stereo is actually one of the more profitable items in consumer electronics, but is probably a small portion of their business.  

Wal-Mart is the number two seller of electronics now, right after BB, and they've only been seriously trying to sell them for 3 years.  Kind of scary...

Have a good weekend.



quote="Rob Babcock"]This is quite a bummer.  Ulitmate Electronics has not only filed for bankruptcy, but may not be able to operate thru the month!   Apparently sales have been horrible and they're getting killed by the competition from CC, BB and Wal-Mart.

Truly a shame, since they have products well above those other stores, especially where higher end video is concerned.  I wonder if their decision to carry car stereo and computer gear was a contibuting factor- they gotta be getting killed on that stuff.[/quote]

[Rob Babcock]

I realize computers & car stereo are big business, but I'd be surprised if Ultimate is competitive in those markets.  At least going by the price and selection from my local store.

Hope they turn it around (they're the only auth Denon dealer in the area, and I have an xtended warranty on my DVD-2200).

[Mathew_M]

I was never impressed with Ultimate.   Like a lot of big box retailers they basically just set up a bunch of systems that are out of whack/tune and rely on witless sales drones to push products.  They also liked to showcase Monster's overblown and priced sound conditioners or whatever they were.  I guess hundreds of blue flashing lights and flickering numbers indicate something that should be expensive.

[Rob Babcock]

The local UE in my town is a pretty darned good store.  Sure, some stuff isn't well set up, but they have better stuff than BB, salesman who aren't clueless morons, and most importantly tremendous customer service.

[corwin99]

That really sucks... I'm not familiar with Ultimate Electronics, but out here in western Canada, A&B Sound has also just filed under chapter 11 last week. They were the biggest of the small guys... with 21 stores in western canada. I really like the place myself... having spent lots of money there.

Looks like the BB's of the world are taking over.