New Owners to Close All Sharper Image Stores

Will continue wholesale, catalog businesses; unload $50M in inventory
By Jim O'Neill,  Newser User
Posted Jun 2, 2008 6:03 AM CDT
Pedestrians walk by a Sharper Image store in Beverly Hills, Calif. in this Feb. 27, 2008 file photo.   (AP Photo/Nick Ut, File)
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(Newser) – Specialty gadget retailer Sharper Image, purchased Thursday in a bankruptcy auction for $49 million by investment firms Hilco Organization and Gordon Brothers, will close its remaining 86 stores, reports CNet. The new owners say they’ve developed a wide-ranging licensing strategy for the brand and will continue developing the company after unloading some $50 million in inventory. Sharper Image filed for bankruptcy in February.