Sharper Image decides to sell business and assets

By Caroline Salls

Pittsburgh, April 23 - Sharper Image Corp. has elected to attempt to sell its business and assets, and the company will solicit indications of interest from potential buyers, according to a company news release.

The company said it intends to complete the sale process and seek bankruptcy court approval of the sale by the end of May.

Sharper Image said it will establish bid procedures as soon as possible.

"Given the present retail climate and specialty nature of the company, as well as the limited financing available to the company, a sale of its business and assets at this time will preserve values and yield the best recovery," chief executive officer Robert Conway said in the release.

Sharper Image, a San Francisco-based specialty retailer, filed for bankruptcy on Feb. 19 in the U.S. Bankruptcy Court for the District of Delaware. Its Chapter 11 case number is 08-10322.

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