Sharper Image Declares Bankruptcy

$500 Million Just Evaporated

The Founder Of Sharper Image

The Sharper Image Corporation  , founded by Richard Thalheimer, is a specialty retailer that operates throughout the United States. The Sharper Image has been in business since 1977, and publicly traded since 1987. The company is headquartered in San Francisco, CA, and employs 2,500 people nationwide.

Business Slowed In 2007

The company sells through retail stores throughout the United States, a monthly catalog, and its website. The company also has business-to-business sales teams for marketing its products for corporate incentive programs and wholesale to retailers.

Jerry Levin CEO Calls It A Day

On February 19, 2008, the company filed for Chapter 11 bankruptcy, blaming low sales aggravated by a decline in consumer spending and negative publicity surrounding its Ionic Breeze air purifiers. Sharper Image indicated that stores in economically impacted areas will be closed immediately. This includes Detroit (two stores, total), Cleveland (one store), at least one store in the Boston area (Burlington, MA), and one store in Wellington, Florida; additionally the chain's Union Square location in San Francisco, CA will be closing, as will the chain's location in Durham, NC. In late February, 2008, the company announced that it was suspending, at least temporarily, acceptance of previously purchased gift cards.

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Another Look Into Your Future

Shaper Image had a stock market value of $500 million, and today it's zero. So where is the money? Some lucky investors sold before it tanked, and some really savvy investors shorted the stock, making a small fortune. Rest assured  that the Zionists filled their pockets.

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