Luskin's

Luskin's

Industry	Retail
Founded	1948 (1948)
Founders	Jack and Joe Luskin
Defunct	Template:End date and age
Fate	Chapter 11 bankruptcy and liquidation
Headquarters	Baltimore, Maryland , United States
Area served	Maryland, Washington, D.C. and Virginia
Products	Consumer electronics, home appliances, car audio sales and installation, office equipment, parts and accessories
Services	Repair and installation

Luskin's was a Baltimore-based electronics retail company that operated from 1948 until 1996. Renowned for emphasizing affordability, it promoted the catchphrase "The Cheapest Guy in Town". At its height, Luskin's managed 56 outlets across 11 states.

History

Initially established in 1948 by brothers Jack and Joe Luskin as a business supplying ice, the company soon began offering refrigerators and electronic products to its clientele.

In 1981, Luskin's expanded by purchasing George's, a chain of 15 electronics stores located in Baltimore and the Washington metropolitan area, from Douglas Jemal, who had acquired it from George Wasserman's estate the previous year.

The company further extended its reach into the Midwestern United States in 1984 by acquiring Tokyo Shapiro, a five-store chain undergoing bankruptcy proceedings.

Luskin's transitioned to a publicly traded corporation through an initial public offering in May 1985. At that point, the Luskin family retained a majority stake of 72% and owned real estate for several store locations. The company operated 29 stores during this period.

In November of the same year, Luskin's expanded its Midwestern footprint by acquiring Sound & Sight, an electronics chain with eleven outlets.

Facing intensified competition from Best Buy, Luskin's announced the closure of eight stores in the Baltimore-Washington area in early September 1996. Later that month, it shuttered its remaining twelve stores within the region. By November of that year, additional closures occurred in Virginia.

In February 1997, Luskin's filed for protection under Chapter 11 bankruptcy.

Jack Luskin passed away on December 1, 2017 at age 89; his daughter is Jamie McCourt.

Controversies and legal issues

In 1981, Luskin's faced a lawsuit from the Attorney General of Maryland concerning allegations of misleading advertising prices; the matter was resolved through an out-of-court settlement.

A promotional campaign in July 1992, offering complimentary airfare and reduced hotel rates, sparked debate due to its requirement for a purchase. Nonetheless, a judicial ruling determined that the advertisements were not misleading.