The maker of the Yankees' 'official' clock files for bankruptcy after smartwatch bet backfires

Mary DeCicco/MLB Photos via Getty ImagesE. Gluck Corporation, the maker of Armitron watches, filed for Chapter 11 bankruptcy.The decades-old company struggled as consumers shifted from traditional watches to smartwatches.Armitron has touted itself as the "official timekeeper" of the New York Yankees.The decades-old watchmaker behind the "official" clock at the home of the New York Yankees filed for bankruptcy last week.E. Gluck Corporation, the maker of the Armitron watch line and the manufactur