Hide your Insta Slim Compression Shirts, hide your Kitty Washroom Cabinets – SkyMall has filed for bankruptcy.
The Wall Street Journal claims the bankruptcy of the in-flight magazine best known for things like Bigfoot Tree Yeti Sculptures and Circulation Improving Leg Wraps you probably should have purchased before you got on the plane, is “a victim of evolving rules and technology that now lets airline passengers keep their smartphones and tablets powered up during flight.”
And SkyMall claimed as much in their filing:
In court papers, acting Chief Executive Scott Wiley cited a “crowded, rapidly evolving and intensely competitive” retail environment as the reason for the quarterly publication’s recent nosedive.
“With the increased use of electronic devices on planes, fewer people browsed the SkyMall in-flight catalog,” Mr. Wiley said.
The increase in the number of airlines providing Internet access “resulted in additional competition from e-commerce retailers and additional competition for the attention of passengers, all of which further negatively impacted SkyMall’s catalog sales,” he added.
They’re hoping to sell the business at auction in March and WSJ writes, “In its bankruptcy petition, the company listed assets between $1 million and $10 million and liabilities ranging from $10 million to $50 million.” You know, if you were at all interested. I don’t have the funds but if they start selling individual product at a discount thought, I’d be all over this Pod Bed:
or Sitting Pretty Oversized Brown Bear Statue with Paw Seat:
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