Kolster Radio Corporation
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The Kolster Radio Corporation was an electronics manufacturer and distributor
Insolvency
Three receivers were appointed on January 21, 1930, to handle the failure of the company, which was located at 200 Mount Prospect Avenue in Newark. The business possessed considerably more assets than liabilities. However, because of overproduction, it suffered an inability to raise cash to fulfill its immediate obligations.[2]
Under a plan approved by receivers, the Kolster plant in Newark reopened after March 1930. The production facility fulfilled the completion of 15,000 partly built radio sets. These were sold to Kolster distributors for
References
- Wall Street Journal, August 2, 1928, pg. 13.
- ^ New York Times, January 22, 1930, pg. 31.
- Wall Street Journal, June 2, 1928, pg. 7.
- ^ Kolster Radio Corp., Wall Street Journal, March 27, 1930, pg. 6.