Sharper Image Files for Bankruptcy

Stock quotes in this article: SHRP  

Electronic-gadgets retailer Sharper Image (SHRP Quote) filed for reorganization under Chapter 11 of the bankruptcy code Tuesday in Delaware, sending the battered stock tumbling nearly 65%.

The San Francisco-based company, whose sales have been slumping for months and months, said it will continue to conduct business as usual while it develops a reorganization plan.

Shares of Sharper Image were losing 93 cents, or 64.6%, to 51 cents after the filing. The stock has now fallen more than 80% in 2008.

A week ago, Sharper Image replaced CEO Steven Lightman with Ron Conway, who runs a New York-based management-consultancy firm, in an attempt to halt its sliding sales.

  • Loading Comments...
  •  

SHARE:

  • email
  • print
  • comment
  • digg
  • delicious
  • linkedin

Recent Comments





Connect with TheStreet

Dow Jones S&P 500 NASDAQ 10-Year Note
10,468.63 1,108.17 2,172.45 32.34
Oil *
79.74
UP
123.79
UP
12.54
UP
27.85
UP
0.33
10 Yr
3.23%
SPDR Gold
117.38
+1.20%
+1.14%
+1.30%
+1.03%
Data delayed 20 minutes

Brokerage Partners

TheStreet Premium Services

All Services