Sharper Image to close remaining 86 stores
Gadget retailer, which filed for Chapter 11 bankruptcy protection in February, expects to sell $50 million in inventory as it shutters 86 stores across the United States.
Gadget retailer The Sharper Image plans to close all of its remaining stores, its new owners announced Sunday.
The group, which purchased the gadget retailer's assets in a bankruptcy auction Thursday for $49 million, said it has developed a licensing strategy for wholesale, retail, direct-to-retail, e-commerce, and catalog businesses.
The Sharper Image filed for Chapter 11 bankruptcy protection in February, with plans to shut about half of its 184 stores and reorganize. The San Francisco-based company said it had lost more than $135 million since early 2005. The company.