E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 3/17/2008 in the Prospect News Distressed Debt Daily.

Sharper Image granted court approval of liquidator, will hold closing sales at 97 locations

By Jennifer Lanning Drey

Portland, Ore., March 17 - Sharper Image Corp. obtained court approval of its liquidation agreement with Hilco Merchant Resources, LLC and Gordon Brothers Retail Partners, LLC under which the joint venture will hold closing sales at 97 Sharper Image stores, according to a Friday filing with the U.S. Bankruptcy Court for the District of Delaware.

Sharper Image believes that streamlining its retail business operations will allow the company to reduce its non-productive operating expenses and to focus its reorganization efforts on its remaining stores, according to the company's motion requesting the approval.

Sharper Image, a San Francisco-based specialty retailer, filed for bankruptcy on Feb. 19. Its Chapter 11 case number is 08-10322.


© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.