US gadget retailer goes under

Sharper Image files for Chapter 11 bankruptcy protection.
Publish date:
Social count:

The retailer has cited a liquidity crisis, increased competition and a tightening economy, which produced weak sales for its trouble.

Robert Conway replaces Steven Lightman as CEO and 90 of its 184 stores will be closed, following inventory liquidations.

The firm’s court filings stated: “Sharper Image is in a severe liquidity crisis that is attributable to a host of factors, including among others, increased competition, and deteriorating gross margins, the negative impact of pending litigation and resultant loss of consumer/market confidence, contraction of credit from vendors and suppliers, and maintenance increases in the number of non contributing stores.”

The filing also stated that extra working capital is urgently required in order for the firm to continue and sustain its operations and maximise value.

Sharper Image has struggled with declining sales and profitability for several years as multi-channel competitors have begun offering similar merchandise. In recent years, it has begun relying on sales of its air purification devices and massage chairs as well as increasing the number of toys in its product mix.



US showroom saga goes on

The 20-month search for a new permanent showroom for the US toy industry goes on, after a deal for the latest potential HQ fell through.

Featured Jobs

Vivid Job Logo 620 x 349

Digital Marketing Executive - Toys & Games

Vivid is Britain’s biggest toy company and the 20 largest in the world. With offices across the globe, they sell an amazing portfolio of toys and games to over 60 countries. Vivid is best known for its association with blockbuster brands and is very excited about future opportunities around the world.


UK Sales Agents

Liberty House Toys have been appointed as the exclusive UK distributor for the BiOBUDDi brand, and we are pleased to introduce this new unique, innovative and exciting range of 100% environmentally-friendly toy building blocks. We are seeking experienced sales agents with existing network in the toy retail market.

Gameplan Job Logo 620 x 349

Head of Product Development & Marketing

Our client is a privately owned French toy and games manufacturer which sells through distributors in forty countries. The company develops and sells innovative electronic interactive toys and games for the educational and gaming markets, and also takes suitable licenses. To progress its successful business development a Head of Product Development & Marketing is to to recruited.

HIT Entertainment Job Logo 620 x 349

Licensing Systems Administrator

The Contract System Coordinator is a newly created role to support the deal term entry process into Mattel’s new Contract Management System for its Licensing business. The role will support the Business Teams at the Deal & Amendment phase of the contracting process and act in conjunction with the System Administration team.