His prices were "in-SANE!" And his fall from grace was spectacular.
Eddie Antar, whose Crazy Eddie retail chain was once as much a part of the New York landscape as pizza slices and the ubiquitous yellow cab, has died. He was 68.
Antar’s death on Saturday was confirmed Monday by the Bloomfield Cooper Jewish Chapels in Ocean Township, NJ. No cause was given. The funeral home said it had no details on services.
Antar was the force, if not the face, behind the Crazy Eddie electronics chain whose pitchman dominated the airwaves in the 1970's and 80's with a motor-mouth delivery and the tagline, “These prices are insane!’’ The chain, which grew to 43 stores, was known for its deep discounts on electronics of a bygone era – stereo’s, VCRs, and answering machines, as well as telephones and home appliances. And its over-the-top late night pitches were even parodied by Dan Aykroyd on Saturday Night Live.
The Crazy Eddie chain went public with a stock offering in 1984. But after soaring to fame because of its kitschy ads and stellar success, the retail chain soon became notorious for another reason. Antar’s cousin, Sam Antar, said in the CNBC interview that from 1969 to 1980, cash was being skimmed from the business -- with copies of receipts tossed, and the cash from sales pocketed. “There was so much cash skimmed that we didn’t know where to put it,’’ Sam Antar said.
When Eddie Antar was charged with insider trading and securities fraud, he decamped for Israel. But in 1993, he was extradited to the U.S., and eventually served a 7-year prison term.
