New York - Sharper Image Stores to be Closed and Liquidated
New York - All remaining stores of bankrupt gadget retailer Sharper Image will be closed and liquidated, its new owners said today.
More than $50 million of inventory is being sold at 86 Sharper Image store-closing sales throughout the United States.
A joint venture led by units of Hilco and Gordon Brothers purchased the company’s assets at a bankruptcy auction last week for $49 million, and plan to continue its wholesale, direct-to-retail, e-commerce and catalog businesses under a new licensing strategy.
The company had filed for bankruptcy protection in February, and put itself up for sale in April, saying a sale was the best route in light of the weak U.S. economy and tight credit market conditions.
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