Gadget retailer Sharper Image said Monday that it is closing all its stores, including its Little Rock location.
(Click here to see Arkansas Business on KTHV’s video report on this story.)
The company, which has declared bankruptcy, said store closing sales have just begun at all its 86 remaining stores, part of "a major transformation of the Sharper Image brand." It said more than $50 million of inventory is being sold.
The chain, founded by Little Rock native Richard Thalheimer, filed Chapter 11 bankruptcy earlier this year. In February, the company said it will close 90 of its underperforming stores.
The Little Rock store was not included in that round of closings. But Monday’s announcement meant the store, which opened in 2001 off Chenal Parkway in west Little Rock, would close as well.
The company said discounts of 20 percent to 40 percent are being offered on all merchandise in all stores.
The store closing program is led by Hilco Merchant Resources LLC and Gordon Brothers Retail Partners LLC. Those two firms said they would lead a "transformation of the Sharper Image brand" going forward. The group purchased the brand at a bankruptcy auction last week.
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