14598 Mon, 06/02/2008 - 12:04pm
NEW YORK–A partnership purchased The Sharper Image on Friday, and will conduct liquidations at all 86 of the gadget specialty retailer’s stores.
Statements from the joint venture—which consists of Hilco Consumer Capital, Gordon Brothers Brands and Bluestar Alliance in partnership with Windsong Brands and Crystal Capital—indicated that this group will try to conduct Sharper Image as a going concern. According to one statement, the group has developed a “global licensing strategy for wholesale, retail, direct-to-retail, e-commerce and catalog businesses.” The goal is to extend The Sharper Image brand internationally in both existing and new product categories, the statement added.
Jamie Salter, chief executive officer of Hilco, said the new ownership would “partner with world-class licensees and retailers” to introduce products under the brand.
According to a filing at U.S. Bankruptcy Court in Wilmington, Del., the partnership purchased Sharper Image for $49 million on May 30. Sharper Image had been in Chapter 11 bankruptcy protection since February.