Federated Group was an American chain of consumer electronics retail stores with 67 stores in California, Texas, Arizona, and Kansas.
| FactSnippet No. 1,559,761 |
11 Facts About Federated Group
1.
2.
Federated Group was founded by Wilfred Schwartz in 1970 and opened the first deep discount consumer electronics "superstore" in the United States.
| FactSnippet No. 1,559,762 |
3.
In 1987, Federated Group was the fourth-largest discounter of consumer electronics in the US Its company headquarters were in City of Commerce, California and later in Sunnyvale, California.
| FactSnippet No. 1,559,763 |
4.
Federated Group was sold in 1987 to Atari and sold again in 1989 to Silo.
| FactSnippet No. 1,559,764 |
5.
Federated Group was started by Wilfred Schwartz in 1970 when he bought a 25,000-square-foot warehouse in Los Angeles from an electronics company and turned part of it into a retail store.
| FactSnippet No. 1,559,765 |
6.
In 1976, Federated Group closed two stores and built a 20,000-square-foot "superstore" in Westminster, California.
| FactSnippet No. 1,559,766 |
7.
Federated Group expanded quickly and launched a major expansion into Texas in December 1984.
| FactSnippet No. 1,559,767 |
8.
Federated Group began to lose money in August 1987, so Schwartz decided to sell the company to Atari for US$67.
| FactSnippet No. 1,559,768 |
9.
The deal made sense for Atari since Federated Group could provide their expertise to sell more computers.
| FactSnippet No. 1,559,769 |
10.
The lawsuit charged that Wilfred Schwartz and other Federated Group officers conspired to misrepresent the value of the company's assets.
| FactSnippet No. 1,559,770 |
11.
Sales went up by 30 percent after that spot and Federated Group nominated itself for Adweek magazine's annual "Bad Advertising" issue.
| FactSnippet No. 1,559,771 |