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December 2, 2008 10:12:12 PM CST


Sharper Image

Sharper Image news stories

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New Owners to Close All Sharper Image Stores

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

(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. More »

More about:  bankruptcy retailing Sharper Image

Retailers Checking Out as Economy Falters

Each default brings widespread fallout

(Newser) - Stores across the country are closing their doors, the New York Times reports, victims of a downturn in consumer spending. Retailers are often heavily leveraged, and as the economy falters banks are tightening credit. Several chains, including Sharper Image, have declared bankruptcy; others like Footlocker, Ann Taylor, and Zales are closing stores to stay afloat. “You have the makings of a wave of significant bankruptcies,” said a former Kmart executive. More »

More about:  economy recession bankruptcy consumer spending retail retail stores Sharper Image Linens 'n Things Ann Taylor

Gift Cards Not Looking So Sharp

Bankrupt retailer isn't honoring $25M in gift cards

(Newser) - Consumers holding Sharper Image gift cards are out a collective $25 million after the gadget retailer stopped honoring the cards when it filed for bankruptcy in February, MarketWatch reports. With the shaky economy likely to produce more bankruptcies over the next year or two, consumers would be wise to redeem other cards they may be hoarding. More »

More about:  US economy bankruptcy Chapter 11 retailing Sharper Image gift cards

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