Pa. chain buys troubled Stansbury stereo stores

January 24, 1991|By Cindy Harper-Evans

Here's a happy ending to a bankruptcy story.

Catonsville-based Stansbury Stereo and Video Centers, which filed for Chapter 11 protection from its creditors under the U.S. Bankruptcy Code in mid-October, has been acquired by Bryn Mawr Stereo, an audio-video chain based in suburban Philadelphia, Bryn Mawr Vice President Richard Glikes said yesterday.

The deal cost the 18-store Bryn Mawr chain about $300,000, he said.

Stansbury will keep its four retail outlets in Catonsville, Timonium, Perry Hall and Dundalk and its service center.

Most of Stansbury's approximately 50 employees have been retained under the new ownership.

The only employment casualties were in Stansbury's mail-order operation, which Bryn Mawr chose not to continue, Mr. Glikes said.

The Stansbury name will be kept, he said.

Although the buyout puts an end to the independence of Stansbury, a 40-year-old retailer once known to consumers as a place to buy big-screen televisions, it has kept the chain alive in an area that has lost anumber of retailers recently to the slumping economy.

Mr. Glikes said new approaches are being tried in an effort to revitalize Stansbury. The most obvious to customers will be the addition of such products as Polk speakers, Blaupunkt car stereos and Proton televisions.

The Bryn Mawr chain has stores in Pennsylvania, Delaware and New Jersey.

Baltimore Sun Articles
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.