Group Approved to Buy Sharper Image Brand; Plans to Close All Remaining Stores

June 1, 2008  by in UnCategorized   

By Home Furnishings Business in on June 2008 A joint venture of five companies has been granted court approval to acquire the Sharper Image brand and other intellectual property for $49 million.

Hilco Consumer Capital, Gordan Brothers Brands, Bluestar Alliance, Windsong Brands and Crystal Capital have developed a global licensing strategy for wholesale, direct to retail, e-commerce and catalog business that will build on The Sharper Image’s upscale specialty positioning.

The new owners said they will close Sharper Image’s 86 remaining stores, and try to sell more than $50 million of inventory. Hilco and Gordon Brothers already have led liquidations at 96 other Sharper Image stores.

Jamie Salter, chief executive officer of Hilco Consumer Capital, said the group is moving forward to partner with licensees and retailers to introduce products under The Sharper Image name.

Sharper Image filed for Chapter 11 bankruptcy protection in February and was put up for sale in April.