Mark Albright, Times Staff Writer
In Print: Wednesday, June 4, 2008
International Plaza’s Sharper Image is one of the chain’s last 86 stores. The company’s new owners plan to sell its products online and in other stores.
Liquidators who snared the leftovers of Sharper Image for $49-million are shutting down the chain's last 86 stores, including one in Tampa's International Plaza.
Expected to last about two months, the liquidation sale started this week with discounts of 20 to 40 percent at all nine remaining Sharper Image locations in Florida. The Sharper Image in Westfield Citrus Park closed a month ago.
But don't say goodbye to this well-known brand that in its heyday in the go-go 1980s symbolized the latest high-tech gadgetry and pricey novelty goods.
Sharper Image may have lost its edge after its big sellers became mainstream and its product development team ran out of ideas at Ionic Air Purifiers. But the new owners plan to develop more new Sharper Image products and sell them online and through other stores.
"We see a lot of potential expanding this brand, especially internationally," said Rick Kaye, executive vice president of Hilco Merchant Resources, the Chicago merchant services firm that bought Sharper Image out of bankruptcy in a joint venture with Gordon Bros. Group of Boston.
Sharper Image closed most of its 187 stores after a dismal holiday season. Hilco won a stalking horse auction for the company Friday over a group of Sharper Image managers.
Mark Albright can be reached at albright@sptimes.com or (727) 893-8252.
>>FAST FACTS
Companies at risk
Linens 'n Things: The nation's second-biggest home decor chain, faces a Chapter 11 bankruptcy auction of 120 of its 589 stores to liquidators.
Provide Commerce: The San Diego owner of ProFlowers and Shari's Berries on Tuesday was high bidder in a bankruptcy auction for decade-old dot.com Red Envelope.
Borders Group: The unprofitable bookstore chain that put itself up for sale in March will cut costs $120-million over two years, but identified only 275 layoffs from its payroll of 30,000.
Sears Holdings Corp.: The owner of Sears and Kmart lost $56-million after same-store sales plummeted 9 percent in the first quarter. Analysts don't see failure, but the company's $3.5-billion cash cushion of a year ago is now $1.5-billion.
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