What Tweeter Still Owes Employees
Photo via Reuters
But The Boston Globe has dug up some tidbits on what the big-box retailer still owes employees and the liquidators closing the stores.
The Globe cites five store managers and executives speaking under the condition of anonymity because they too are owed money.
Tweeter reportedly requested $900,000 to be put in a fund in its Chapter 7 filing yesterday for unpaid wages, commissions and taxes.
Here's what Tweeter still owes, according to The Boston Globe:
- Employees are still owed at least one week's pay
- Unspecified amounts of vacation time
- Thousands of dollars in bonuses that were promised as part of the liquidation
- XX amounts of money to ripped off customers, including $4,000 to this Lebanon couple
There's about $14 million of merchandise locked in the closed stores.
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13 Comments (displayed in order by date/time)
According to a news report on WBZ radio in Boston this morning, the Massachusetts attorney general Martha Coakley says she cannot do anything to assist customers who have given Tweeter deposits or those who have service agreements with the company.
then don’t assist her in keeping her job as Attorney General.
can’t do anything my a@#! let me add then that Tweeter allowed it’s employees to sell worthless warranties from Sept.1st until Nov.10th. let me add then that Tweeter had illegally halted all legitimate and pending office refund checks to it’s customers prior to the Nov.5th chapter 11 filing. that is criminal activity. is your AG completely worthless or what?
More of the same from Tweeter…ripped off customers thousands of dollars that could have been refunded PRIOR to the BK. I myself am out 2,500.00 in CASH that tweeter employees were directed to withhold from me even though Schulze could have given the ok to refund. Who knows if this 900k will be enough to cover everything these ######## owe. Hopefully it will, but until then I am eternally annoyed that they have my money in their bankruptcy fund instead of in my pocket where it belongs. Not sure why such injustice can occur in America. Tons of protection for the failure of a coporation, but ZERO for the little guy. How about these government bozos do something about it!!!
Joe P. I hope you have been following the information and advice I’ve been leaving on the Twice forum and Hartford Courant Watchdog blog. not only do I want all of my customers reimbursed, I believe there is enough “testimony” on the net from all of us to prosecute this idiot Schultze for fraud and grand larceny. CE pro, if you’re paying attention to consumer and employee feedback, this story is not dead. help us take this deadbeat down.
Motion…you are the person most in the know the way it appears…Thursday my little statement will be made when I file a judgement at the local courthouse where Tweeter was operated out of…I will let you all know what develops. I will not go down without a fight.
keep fighting Joe. remember that Schultze had no claim on your money in the same way he couldn’t confiscate my cell phone just because it happened to be in the building at the time of the filing.
Schultze is being served papers next week. I was unable to file a claim against the local tweeter store because they closed. I know this will fall of deaf ears, but at least Schultze will have to sign the papers and see that I have attempted to sue his ass…..jerk.
I left Joe P some advice on the Twice talkback. hope he gets it.
Screw tweeter - I owe THEM 11k for a 60 big screen, bose equip, and servie agreement.
Good luck collecting from me.
Tweeter has stolen 2,500.00 in deposit money from me and many other people. From what I am seeing, it appears there is about $3 million+ in deposits that were confiscated by Tweeter during the bankruptcy. George Schultze is the recognized owner of Tweeter, and the decision maker, even though he hides under the corporate veil of Tweeter.
Mr. Schultze appears to have not only stolen customer deposits that were to be used towards purchases, or installations, but he also turned around and sold this merchandise to essentially double dip his customers. Conveniently enough, the day before he filed for bankruptcy, he paid Wells Fargo about 3 million dollars. I wonder where the broke Tweeter got this money from?? Thats right, its from me, and the other people he ripped off. I would be willing to bet that he had a timed agreement with Wells Fargo and planned on skimming this money from day one to pay his debts with Wells. Conveniently, he did not have enough “time” to cut a refund check back to me, and the other unwitting consumers who got screwed.
In any case, there is more evidence out there that this is not a nice guy to do business with. He settled out of court with the SEC and paid a penalty for setting up shell companies to line his pockets. He runs hedge funds, and is a slick bankruptcy lawyer who knows how to manipulate the system. In this case, he manipulated me and the other average joes out there. He also was told by his warranty provider to stop selling warranties in August of 2008. He continued to sell these warranties to unwitting consumers but never paid for them. This is more money that went to line his bankruptcy coffers. Its all right there in the newspapers and anyone should be able to put two and two together. The CT attorney general has suggested fraud, but it appears no one is pushing this any further. I am willing to push it further. If anyone is interested in starting a class action against this guy to pierce the corporate veil, please email me at .(JavaScript must be enabled to view this email address).
I already sued Mr. Schultze and had a judge who was floored by the situation. He was stuck because piercing the corporate veil entails much more than he could do on a district court level….lets take this up the ladder and get this guy!
It does not surprise me they closed. It was poorly run and manged. Corperate culture was to have the install guys fight with the salesmen. Salesmen sat on there asses waiting for a lay down of a sale [you know what I mean by that jimmy] and never went the extra effort. Mangers sat in their offices staring at pictures of Yankee Statium and playing with their Yankee bat. Instead of jmping in on sales they were to busy smacking their lipps loudly while chewing gum. ###### feild supervisors from mass constantly #### up installations and kept buying time until they could leave the company to start their own efforts adventure. FU to shutze, and the ##### managers who ran the company into the ground, fu you all.



Feel free to contact George Schultze here and let him know how you feel:
http://www.samco.net/team.php