iBucket America Announces Closing
Can it get any worse? It's all over for a once mighty American brand with the must-have iPhone accessory: the amazing iBucket recharging platform for your iPhone and iPod. Launched in the fall of 2007, iBucket America, Inc. saw a meteoric rise in its fortunes after opening flagship stores in New York, San Francisco, Los Angeles, Toronto, and Montreal. An IPO quickly followed in early 2008 with shares peaking at a high of $478.00 before plummeting to $0.14 this past February. We just received confirmation from reliable sources that iBucket is closing all 163 stores tomorrow:
"After being de-listed by the NYSE last month things just got progressively worse for us. Liquidators will be taking control of these stores on Thursday. 7400 employees are being laid off," said CEO Mitch Steffani. (WSJ)
According to msnbc, crowds have already begun lining up at stores in anticipation of inventory liquidation sales.
iBucket fans will recall that it wasn't that long ago when iBucket sales saved Xmas for retailers. iBucket Saves Retailers This Shopping Season.
No doubt, you have probably already guessed what the demise of this iPhone icon means.
Collector's.
Item.
Big.
Time.
Everyone I know is scrambling to load up on iBuckets.
It's starting to feel like nothing is safe these days.
Posted by: unclaimed money | March 19, 2009 at 09:36 AM
Bailout funds didn't get approved?
Posted by: Neil | March 19, 2009 at 09:44 AM
We offer iPhone & iBucket Accessories!
Posted by: iPhone & iBucket Accessories | March 19, 2009 at 10:27 AM
ibucket = cough rip off cough
Posted by: John | March 19, 2009 at 10:36 AM
The blame for the demise of ibucket falls squarely on Obama's shoulders.
Posted by: Caprinardo Delirio | March 19, 2009 at 10:40 AM
Another narrow use, limited resale, single product producer who was overextended (really-- you needed retail stores dedicated to *these*) had a quick flurry of sales and goes down.
This isn't surprising in ANY economy. This is an object lesson on how not to grow a business. Everyone has gotten too used to 400% returns every quarter, and that's not a reasonable business model.
Posted by: Victoria | March 19, 2009 at 11:03 AM