The Sharper Image, the first organization to properly fetishize gadgetry as a lifestyle accessory and not just the domain of the obsessive, has filed for Chapter 11—and good riddance. The company has long hawked substandard, unimaginative products, like a cut-rate Sky Mall without all the whimsy (nor the captive audience).
And let’s not even mention the retail stores, staffed by inept floor walkers and clogged with fake leather cases, ionic air lung scorchers and fake chromed plastic as far as the eye could see. Despite fond memories of fireside flips through its exotic pages, I am not upset to see the company go. It had long outlived its usefulness.
I worked for the Sharper Damage headquarters in San Francisco back in the 80s. Outliving them is a sublime pleasure, as I have literally had nightmares about losing my good job and having to go back there.
To those who say they are not yet dead, permit an older fellow his illusions.
http://www.sfweekly.com/2007-10-24/news/ironic-breeze
Well, they fired their founder, killed off R&D, and oddly enough, did not start making money.
And is there any way to recover your username?
@Anonymous: Email your user name and the email address you signed up with and I’ll see if I can’t extract your login info. (joel@b0ingb0ing.net [s/0/o/g])
Sharper Image was greedy and wanted it both ways: they wanted the average schmuck on the street to entertain the notion that they might be able to afford some of their wares, but they were actually courting Hammacher Schlemmer’s consumer base. Problem is, Hammacher Schlemmer does that just fine on their own. Sharper Image couldn’t even steal customers from FAO Schwarz. I wonder what they’ll restructure as, if they even do.
Aw hell, now where am I gonna buy an $80 foam pillow, a useless massage-o-rama chair, and RC helicopter all in one place with no shipping?
Yeah, this doesn’t mean the company is dead — yet. I believe they’re doing this as part of a condition to get a $60 million cash loan from Wells Fargo.
However, I’m predicting that they’ll be a catalog-only outfit within 2 years. If they were smart, they’d try to muscle in on SkyMall’s turf by getting their catalogs into the seatback pockets of airlines.
I wish they could take Bose with them.
While they are no great loss the real question is how do we profit off of this? They had nice stuff that if I could aquire for 25 cents on the dollar, i’d be happy
And Monster Cable.
Man I hated this place. I hope it really goes away, not just re-organizes into some other version of an air purifier.
Long Live Brookstone!
Chapter 11 does not mean the company is dead; quite the contrary. Most companies, especially retailers, file Chapter 11 to get rid of under-performing retail stores by “rejecting” long term leases and paying the landlords a nominal portion of the remaining rent. They usually restructure their trade debt (i.e suppliers) and emerge from Chapter 11 stronger and with renewed viability.
Sorry to disappoint you. They ain’t dead yet.
Aw crap. I’m actually a bit disappointed – I’ve been using their excellent memory foam eyemasks for years. (That said, I’ve never bought anything *else* there.)
While they are no great loss the real question is how do we profit off of this? They had nice stuff that if I could aquire for 25 cents on the dollar, i’d be happy
First, do a bit of research, find out which federal bankruptcy court the case is filed in. Get the documents. That might run you a dollar a page, and or get a PACER subscription.
Next, contact listed creditors. They already expect to get screwed, to the extent that their debts are unsecured. Offer to work with them on a win/win basis to try to get some value for them, liquidating inventory. Offering 25 cents on dollar might get you listened to.
Next, I don’t think this is the kind of bankruptcy that has a receiver appointed to liquidate. Chapter 11 is probably just about restructuring debts. But even so, they have guys tasked with raising cash by getting rid of stuff.
Print up letterhead, write to said guys, see what you can haggle.
One time my car broke down in Ohio, and I met this guy, probably just a bum, but he was very detailed about how to work with receivers in bankruptcy and claimed he had a warehouse full of loot, er, goods, that when the time was right he was going to sell off.
I found this quote from the article revealing: “He came off as the man bringing the newest toys from the North Pole, except that the kids were adults and every day was Christmas.” Once you realize that they’re toys and not well-made gadgets destined to become family heirlooms, it all makes sense.
Humbucker Schlepper will be next. Hopefully.