Sharper Image to Shutter Remaining Stores
New York City All remaining stores of bankrupt retailer Sharper Image Corp. will be closed and liquidated, according to the Associated Press.
More than $50 million of inventory is being sold at 86 Sharper Image store-closing sales throughout the United States, liquidators the Hilco Organization and Gordon Bros. said in a statement.
A joint venture led by units of Hilco and Gordon Bros. purchased the company’s assets at a bankruptcy auction last week for $49 million and plan to continue its wholesale, direct-to-retail, e-commerce and catalog businesses under a new licensing strategy.
The company had filed for bankruptcy protection in February, and put itself up for sale in April, saying a sale was the best route in light of the weak U.S. economy and tight credit market conditions.
Hilco and Gordon Bros. had already led liquidations at 96 of the company’s stores since its bankruptcy filing.
Target promotes Francis to chief marketer
MINNEAPOLIS Target has promoted Michael Francis, evp of marketing to evp and chief marketing officer.
As evp and chief marketing officer, Francis is responsible for all marketing functions, as well as strategy and research, community relations and Target.com.
Kohl’s expands Casa Cristina collection with three new bedding lines
LOS ANGELES and MENOMONEE FALLS, Wis. Cristina Saralegui’s Casa Cristina line at Kohl’s will expand to include a new line of three bedding collections for the fall, available in stores and on Kohls.com.
The Tesoro, Talavera Blue and Paz collections in stores now, are the latest additions to the Casa Cristina line of home furnishings at Kohl’s, which includes tableware, home accents, kitchen textiles and bath collections.