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 company expects to sell $50 million in inventory as it shutters 86 stores across the United States, joint owners The Hilco Organization and Gordon Brothers Group said in a statement.

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 put itself up for sale in April .

About the author

Steven Musil is the night news editor at CNET News. Before joining CNET News in 2000, Steven spent 10 years at various Bay Area newspapers.

 

Join the discussion

Conversation powered by Livefyre

Show Comments Hide Comments
Latest Galleries from CNET
The best and worst quotes of 2014 (pictures)
A roomy range from LG (pictures)
This plain GE range has all of the essentials (pictures)
Sony's 'Interview' heard 'round the world (pictures)
Google Lunar XPrize: Testing Astrobotic's rover on the rocks (pictures)
CNET's 15 favorite How Tos of 2014