Sharper Image files bankruptcy
News - By: pdaBlast! Staff - February 20, 2008
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In another sad turn of events for the standard brick and mortar stores, Sharper Image has filed for Bankruptcy protection. After several years of declining sales they are finally packing it in.
The company says it "intends to continue to conduct business as usual while it devotes renewed efforts to resolve its operational and liquidity problems and develops a reorganization plan."
Last week Sharper Image got rid of Chief Executive Steve Lightman after less than a year, and brought in Robert Conway, of financial-advisory firm Conway Del Genio Gries & Co. The company said it would bring in specialists from Conway Del Genio to "assist ... Conway in addressing business improvements and help implement necessary operational changes."
Does anyone believe that they'll be able to turn things around?
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