Ultimate Electronics is Pulling the Plug
Located on Endicott Street for less than a year, Ultimate Electronics has filed for bankruptcy and is liquidating its stock.
It seems like the southern side of Endicott Street just can’t catch a break.
Ultimate Electronics, a chain of stores that just opened a Danvers location last fall, has filed for bankruptcy and is liquidating its stock to pay creditors. The store at 182 Endicott St., is in the former Linens ‘n Things.
“Going out of Business” signs are now on the building and temporary workers are holding signs along Endicott Street announcing the store’s closing and liquidation sale.
Ultimate Electronics’ Web site is promoting up to 30 percent off items and telling customers that all sales are final.
Owned by Hewlett-Packard Co., Ultimate, a 46-store chain, filed for bankruptcy in January before deciding to liquidate their merchandise last week in order to pay off creditors. According to Reuters, the chain also filed for bankruptcy in 2005 and was bought by new investors.
The move by Ultimate Electronics is just the latest in a string of closings and changes along Endicott Street. The Crab House, Mattress Discounters, Midas, Chicago Uno and a string of businesses at the corner of Endicott and Sylvan streets have come and gone in the past couple of years.
Ultimate Electronics is the latest and shortest tenant in a space that long-time Danvers residents may remember as home to Child World in the 1970s and 1980s.