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New Owners to Close All Sharper Image Stores

Will continue wholesale, catalog businesses; unload $50M in inventory

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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.

Pedestrians walk by a Sharper Image store in Beverly Hills, Calif. in this Feb. 27, 2008 file photo.
Pedestrians walk by a Sharper Image store in Beverly Hills, Calif. in this Feb. 27, 2008 file photo.   (AP Photo/Nick Ut, File)
The Sharper Image will close it remaining 86 stores after being purchased in a bankruptcy auction.
The Sharper Image will close it remaining 86 stores after being purchased in a bankruptcy auction.   (AP Photo/Josh Reynolds)
An exterior view of the Sharper Image at Stanford Shopping Center is shown in Palo Alto, Calif. in this June 6, 2006 file photo.
An exterior view of the Sharper Image at Stanford Shopping Center is shown in Palo Alto, Calif. in this June 6, 2006 file photo.   (AP Photo/Paul Sakuma, file)
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franniek43@yahoo.com
Oct 27, 09 10:05 AM CDT
i have gift cards. i can't use them ordering on line. how can i order using my gift cards? i live in bergen county, new jersey. thanks Reply
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