The story
It was founded by Charles Cox and Alexander Klemin (a professor at New York University) in College Point, New York. The company took over an ordnance plant in Baldwin, New York in 1924. Later that year, it partnered with Ernst Heinkel to design and build a mailplane.
In defiance of prohibition, the company christened its new Nighthawk airplane using champagne in 1925.
The company filed for bankruptcy in 1925. However, bankruptcy proceedings continued into 1926. The case was further delayed after the court could not locate company management.
Grumman would later open its first plant in the shuttered Cox-Klemin factory in 1930.
From Wikipedia’s article on Cox-Klemin Aircraft Corporation, shared under CC BY-SA 4.0.3