San Francisco On Saturday it was announced that Sharper Image Corp., which filed for bankruptcy protection last month, is seeking court permission to close 96 stores nationwide as part of a plan to reorganize and liquidate assets. The documents were filed earlier in the week.
The 184-store chain filed Feb. 19 for Chapter 11 protection in U.S. Bankruptcy Court in Delaware. Before initiating the 96 store closures, it must first obtain bids from liquidators and receive approval from the court. The company filed the list of stores it wants to close on March 4.
Despite earlier reports that Sharper Image would not honor gift cards, the company said Friday it will honor the full value of its gift cards, but only if consumers buy items that cost twice the value of the certificates.