Pipeline - Industry Headlines
Also by year's end, Tweeter says it plans to relocate its Galleria store in the Dallas market to a different location featuring a new concept, the Tweeter Design Center. Tweeter plans to open 10 more stores during fiscal year 2003.
Sirius: Down But Not Out
Embattled Sirius Satellite Radio once again responded to published reports of a possible impending bankruptcy with a firm denial. Sirius reaffirmed plans disclosed in October to recapitalize itself through a voluntary debt for equity exchange and investment of new capital by existing stakeholders. The company added that when it filed for an exchange offer with SEC last month, it included a pre-packaged bankruptcy strictly as a fallback position should it fail to convert the required number of bondholders during the recapitalization process.