By Lisa Johnston
New products on display at the American International Toy Fair, held in N
Wayne, N.J. — Electronics Expo owner Leon Temiz will reportedly buy his company out of bankruptcy for $1.5 million under a court-approved plan.
According to a report in the local Bergen Record newspaper, Temiz formed a new business, Glamazon LLC, to acquire the assets of the specialty A/V chain.
Under the plan, Temiz will likely consolidate the company’s two remaining stores into its headquarters location here, and will continue to operate under the Electronics Expo name.
The chain, which operated seven showrooms at its height, filed for bankruptcy protection in March, blaming stricter vendor pricing policies and delayed instant-rebate credits for its woes.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.