 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.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 debt in the range of $100 million to $500 million.