The struggling speciality retailer The Sharper Image, which has been in Chapter 11 bankruptcy since February, announced Wednesday that it is putting itself up for sale, Reuters reported. The company said a sale is the best course of action, due to the weakening economy and credit markets. The news comes just two weeks after Sharper Image’s chairman, Jerry Levin, resigned in order to attempt a purchase of the company. Sharper Image did not specifically name Levin as the likely buyer, but did say it would like to have the sale done by the end of May. Who do you think will buy
The chairman of the struggling specialty retailer The Sharper Image Corp. announced Thursday that he’s resigning- but plans to partner with other investors to make an attempt to buy the company. Reuters reported that Jerry Levin has resigned, effective immediately, as both a board member and as chairman. He plans to buy either some or all of the company along an unspecified group of investors. The chain filed for bankruptcy in February, and later announced plans to close around half its stores. Do you think Levin will succeed? Talk about it in the Dealerscope forums.