“In-Flight Catalog SkyMall Files for Bankruptcy,” the Wall Street Journal reports:
“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.
The SkyMall business had revenue of about $33.7 million in 2013, but only $15.8 million for the nine months ended September 28, 2014.
SkyMall filed to preserve their assets by seeking “to achieve a sale of their assets and complete an orderly wind-down of their affairs,” said Mr. Wiley.
Is nothing sacred? 2015 is certainly starting off on a consolidating note as first Radio Shack, and now SkyMall as the mighty buzzsaw of Amazon continues to devour the rest of the retail world. I’m not sure if I can face living in a world without SkyMall, but how will Barney Stinson survive?
And where will the rest of us get our backyard-enhancing products made from “quality designer resin,” eh?
— Bunkie Perkins (@BunkiePerkins) January 23, 2015