Posted Feb 20th 2008 9:58AM by Darren Murph
Filed under: Household
We can’t say the writing was exactly on the wall or anything, but when Sharper Image attempted to sell self-branded cellphones and got dinged for pushing grossly overpriced air purifiers that actually made things worse — well, you could tell things weren’t all peaches and cream. Regardless, the company made famous for selling trinkets and massage chairs in malls everywhere has filed for Chapter 11 bankruptcy after “declining sales and three straight years of losses led to a shortage of liquidity.” Comically enough, the retailer actually went so far as to “partly blame” the negative publicity surrounding the aforementioned Ionic Breeze air purifiers for its falling revenues, and court papers also show that it’s currently seeking a $60 million loan to keep operating. Oh, how the mighty mediocre have fallen.
[Thanks, Steve]
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