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.
