But Brooklyn entrepreneur Jack Gemal has acquired the rights to the company name and is on the hunt for retail space near Penn Station, hoping to open a store sometime this year. He dreams of operating 50 Crazy Eddie stores within the next couple years.
The Crazy Eddie fiasco was one of the largest securities fraud cases of its day, with CEO Eddie Antar and his cousin Sam using every old-school accounting charade in the book to bilk investors out of an estimated $200 million. Since then, Eddie has spent time in jail and Sam has made a comeback speaking out against white collar crime.
However bad the karma surrounding Crazy Eddie might be, it looks like a pretty smart brand to acquire -- if you're going to start a new electronics chain in the first place, which probably isn't so smart. Famous or infamous, the Crazy Eddie name is well-known, and certainly provides a marketing advantage over starting from scratch. Gemal said he acquired the Crazy Eddie trademarks for less than the price of a Prius. Check out a few of the original Crazy Eddie's vintage commercials below.