SkyMall has been saved.
New Jersey-based C&A Marketing announced on Wednesday that it purchased the assets of bankrupt in-flight magazine SkyMall auction. AZCentral reports that C&A bought SkyMall’s assets for $US1.9 million.
In a statement, C&A executive VP Chaim Pikarski said, “Our goal is to bring the SkyMall brand back to its roots, back to the brands, products and technology that relate to all travellers.”
SkyMall filed for bankruptcy back in January.
According to initial reports of the company’s bankruptcy, SkyMall revenues totaled $US33.7 million in 2013 but had just $US15.8 million in revenues through the first nine months of 2014.
SkyMall’s parent company said in court filings that the increased use of electronic devices on planes led to fewer people browsing their magazines during flight.