The Kolster Radio Corporation was an electronics manufacturer and distributor based in

Newark, New Jersey Newark ( , ) is the most populous city in the U.S. state of New Jersey and the seat of Essex County and the second largest city within the New York metropolitan area.Frederick A. Kolster. In June 1928, the

Columbia Phonograph Company Columbia Records is an American record label owned by Sony Music Entertainment, a subsidiary of Sony Corporation of America, the North American division of Japanese conglomerate Sony. It was founded on January 15, 1889, evolving from the Amer ...

announced plans to market a radio receiving set built by Kolster Radio. The product was sold in the

United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territorie ...

Europe Europe is a large peninsula conventionally considered a continent in its own right because of its great physical size and the weight of its history and traditions. Europe is also considered a Continent#Subcontinents, subcontinent of Eurasia ...

, and

Japan Japan ( ja, 日本, or , and formally , ''Nihonkoku'') is an island country in East Asia. It is situated in the northwest Pacific Ocean, and is bordered on the west by the Sea of Japan, while extending from the Sea of Okhotsk in the north ...

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 In economics, overproduction, oversupply, excess of supply or glut refers to excess of supply over demand of products being offered to the market. This leads to lower prices and/or unsold goods along with the possibility of unemployment. The de ...

, it suffered an inability to raise cash to fulfill its immediate obligations.''Receivers Are Named For Kolster Radio'',

New York Times ''The New York Times'' (''the Times'', ''NYT'', or the Gray Lady) is a daily newspaper based in New York City with a worldwide readership reported in 2020 to comprise a declining 840,000 paid print subscribers, and a growing 6 million paid d ...

, January 22, 1930, pg. 31. 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$ The United States dollar (symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official ...

500,000.''Kolster Radio Corp.'', Wall Street Journal, March 27, 1930, pg. 6.

References

{{Authority control Electronics companies of the United States Manufacturing companies based in Newark, New Jersey Electronics companies disestablished in 1930 1930 disestablishments in New Jersey Defunct manufacturing companies based in New Jersey