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SkyMall files for bankruptcy protection


SkyMall shopping magazine has filed for bankruptcy protection.

The in-flight catalog is popular for selling unusual gadgets and other oddities.

“With the increased use of electronic devices on planes, fewer people browsed the SkyMall in-flight catalog,” the company’s interim chief executive, Scott Wiley, said in court papers.

The magazine’s parent company, Xhibit Corporation, said SkyMall revenues were $15.8 million in 2014.

That is a nearly 50% decline from 2013.SkyMall bankruptcy

In 2014, the company suffered large setbacks when both Delta Airlines and Southwest Airlines said they would cease carrying the catalogue.

Furthermore, SkyMall had been hurt in recent years by the sluggish US economic recovery.

“A substantial portion of the products and services SkyMall offers are products or services that consumers may view as discretionary items rather than necessities,” the company wrote in its filing.

SkyMall’s parent Xhibit said it would hold an auction of the company’s remaining assets on March 24.

It said the company had approximately $1 million to $10 million in assets and liabilities that ranged from $10 million to $50 million.

The company, which was founded in 1989, is based in Phoenix, Arizona and has around 150 employees.

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Clyde is a business graduate interested in writing about latest news in politics and business. He enjoys writing and is about to publish his first book. He’s a pet lover and likes to spend time with family. When the time allows he likes to go fishing waiting for the muse to come.