The notorious 1970s electronics chain Crazy Eddie- which went out of business after its eponymous founder went to prison- is being brought back to life by new investors.
According to BrandWeek, a New York-based firm called Magic Investments has purchased the Crazy Eddie name and plans to revive the brand as both a brick-and-mortar and online business. Magic has bought the name from Trident Growth Fund, which had purchased it in 2004 from relatives of founder Crazy Eddie Antar.
The online segment of the business has already appeared, at the Web site www.pricesareinsane.com.
The chain’s founder, "Crazy" Eddie Antar, spent six years in prison after he was convicted on federal fraud and racketeering charges. Actor/director Danny DeVito recently announced plans to produce a Crazy Eddie movie.