TheaterXtreme Poised for a Re-LaunchGrand Rapids, MI - March 26, 2011 - THEATERXTREME which filed for Chapter 7 bankruptcy, completed the sale of the former corporation in December of 2009 is putting plans in place now to re-launch the company.
By: Robert Cribbs of TXEG. "During the bankruptcy proceedings we did substantial due diligence and found the Company's failure was not due to the business model, which was sound, but a lack of funding to reach its full potential. TXEG's investment capital tightened significantly in the final months of operation because of its financial relationship with Circuit City. When Circuit City went out of business, TheaterXtreme was forced into bankruptcy," Now that TheaterXtreme has cleared bankruptcy eliminating all the problems from the past, TheaterXtreme Entertainment Group(TXEG) can start growing the company again. The bankruptcy filing included TXEG's popular RowOne® furniture line. "It took a lot of work to fix the problems with RowOne® but we met with our former store owners, dealers, and AV advisors and made the corrections needed to the RowOne® furniture line. We now have the furniture necessary to do Theater Xtreme's popular "home theater out of the box concept" with columns, risers, prosceniums, chairs, custom entertainment centers and RowOne® screens." According to Cribbs, the new updated TheaterXtreme web site has gotten considerable interest from consumers, potential investors, and inquiries about becoming a TXEG operator. TheaterXtreme currently has seven of the original franchises still in operation. "We are developing a new in-store gallery program for home entertainment stores and retail furniture stores that want to increase sales," said Cribbs, "Many retailers are looking for new ways to increase business and the success of the TXEG business model will be a great way for them to improve their home theater business." Former suppliers, upon learning about TheaterXtreme's plans to move the company forward and expand into more markets, are working with TXEG to put special programs in place to expand their sales base. "The time is right to re-launch a truly visionary retail concept," Cribbs added, "smaller more efficient stores around 2,500 square feet and new in-store concepts are the company's future plans." On the drawing board is a new smaller conceptual store to open in the Wilmington, Delaware area where it all began. "This would be a natural place to open a new store," says Cribbs. TheaterXtreme still has a strong following in the Wilmington area. With TXEG's name recognition, this would be a great starting point for a new store. "With the growth of the home theater market, TheaterXtreme's market approach, new store concept, and expansion plans will make for exciting times for potential TXEG operators and their customers," says Cribbs. # # # Theater Xtreme designs, sells, and installs affordable front projection, and flat-panel based, home cinemas and complete entertainment solutions for home and business. Photo: https://www.prlog.org/ End
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