Ultimate Electronics

Ultimate Electronics was a chain of consumer electronics stores which filed for bankruptcy twice after 2006, liquidating and ceasing operations in 2011. 
At its peak, the stores originally operated in 20 states: Arizona, Colorado, Florida, Illinois, Iowa, Idaho, Kansas, Minnesota, Missouri, Nevada, New Mexico, Oklahoma, Ohio, Oregon, Massachusetts, New Hampshire, New York, South Dakota, Texas, Pennsylvania, Utah, and Wisconsin. It was originally incorporated in the state of Delaware with principal offices in Thornton, Colorado. Stores originally operated under other various names, including SoundTrack Colorado and Audio King Minnesota, Iowa, and South Dakota.
Ultimate began a large expansion campaign in 2000 and by 2004 the company had doubled its store count to 64, leading to the company filing for bankruptcy.
Hollywood Video founder and then–CEO Mark Wattles acquired 32 stores in the ensuing bankruptcy auction; the remaining half were closed. Ultimate Electronics was then a privately owned company operated by Ultimate Acquisition Partners, L.P. Ultimate Acquisition Partners, L.P was a  of Wattles Capital Management, LLC. Wattles Capital Management owned 71% of Ultimate Electronics, while Hewlett-Packard Co. owned 25%. The other 4% was owned by Private Venture Capital Firms.
In November 2010, Ultimate Electronics opened a store in Tigard, Oregon. It was the only Ultimate Electronics store on the West Coast, though Wattles had hoped to open 14 more in Salem, Oregon, and the Portland metro area.
In October 2010, EA announced the acquisition of England-based iPhone and iPad games publisher Chillingo for US$20 million in cash. Chillingo published the popular Angry Birds for iOS and Cut the Rope for all platforms, but the deal did not include those properties, so Cut the Rope became published by ZeptoLab, and Angry Birds became published by Rovio Entertainment.
As of January 27, 2011, the new company filed for Chapter 11 bankruptcy, ultimately choosing to liquidate, converting it into Chapter 7. According to papers filed in U.S. Bankruptcy Court in Wilmington, Delaware, the company listed both assets and  in the range of $100 million to $500 million. Among the largest unsecured creditors were Video Products Distributors (owed $6.1 million); Valassis Communications ($5.6 million); New Age Electronics/SYNNEX ($5.5 million); and Sony Electronics, ($4.8 million). Secured lender GE Capital was owed $64.8 million.
Category:Defunct electronic stores
Category:Defunct retailers
Category:Electronic Stores
Category:Retailers by type
Category:Retailers
Category:Discount stores
Category:Companies
Category:Franchises
Category:Brands