From a news release on their site. Very sad and in my opinion bad for the entire industry... http://www.twtr.com/phoenix.zhtml?c...e&ID=998716&highlight= The Company believes that it does not have sufficient working capital to fund its short-term needs, such as the payment of costs associated with store closings, lump-sum payments to landlords of closed stores with whom it reaches settlements, and to fund its long-term cash needs. The Company continues to investigate the marketability of its investment in Tivoli, a privately-held company in which Tweeter currently holds an ownership interest of 18.75%. There is no guarantee that the Company will be able to sell the Tivoli stock. The Company is pursuing other alternatives for raising additional capital. Any additional capital could take the form of debt or equity, but there can be no assurance that additional debt or equity will be available on acceptable terms or at all. Any equity financing could result in substantial dilution to existing stockholders. Absent obtaining additional capital or reaching adequate settlements with the landlords of its closing stores, the Company may choose to file for reorganization under Chapter 11 of the bankruptcy code.