The Kolster Radio Corporation was an electronics manufacturer and distributor based in Newark, New Jersey, which went bankrupt in January 1930. It bore the name of its chief research engineer, Frederick A. Kolster. In June 1928, the Columbia Phonograph Company announced plans to market a radio receiving set built by Kolster Radio. The product was sold in the United States, Europe, and Japan.
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.
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 US$500,000.
References
- Promising Outlook For Kolster Radio, Wall Street Journal, August 2, 1928, pg. 13.
- ^ Receivers Are Named For Kolster Radio, New York Times, January 22, 1930, pg. 31.
- Columbia-Kolster, Wall Street Journal, June 2, 1928, pg. 7.
- Kolster Radio Corp., Wall Street Journal, March 27, 1930, pg. 6.