JAMM AQUINO / JAQUINO@ STARBULLETIN.COM
Sharper Image, the popular gadgets and electronics store, will be shutting its doors at Ala Moana Center.
Sharper Image closing Hawaii locations
Sharper Image Corp.
is liquidating 86 stores across the nation, including two in Hawaii.
The Sharper Image store at Ala Moana Center and Kaahumanu Center on Maui are among those stores offering a closeout sale of between 20 to 40 percent off all merchandise.
The sale officially kicked off on Saturday, just two days after Hilco Merchant Resources LLC and Gordon Brothers Retail Partners LLC acquired Sharper Image's assets for more than $50 million at a bankruptcy auction.
The group is planning to develop a global licensing strategy for wholesale, retail, direct-to-retail, e-commerce and a catalog business that will exploit Sharper Image's "heritage of quality, excitement, innovation and fun," according to a release from Hilco.
They are positioning the closing sale -- at Sharper Images stores stretching from Palo Alto, Calif., to Bridgewater, N.J. -- as the perfect opportunity for shoppers looking for Father's Day gifts.
More than $50 million of inventory is being sold.
"This is an outstanding opportunity for consumers to realize unprecedented savings on a remarkable selection of products not to be found anywhere but in Sharper Image stores," said Michael Keefe, president of Hilco Merchant Resources. "This is sure to be a very popular sale, which will not last very long and comes at a perfect time for making Father's Day gift purchases."
The national gadget and electronics retailer had been struggling for some time, having filed for Chapter 11 bankruptcy in February after a worsening sales slump. At the time, Sharper Image announced it would close half its 180 or so stores.
In April, Sharper Image Chairman Jerry Levin resigned, a departure triggered by his notice that he wanted to buy all or part of the bankrupt specialty retailer.
Hawaii store managers said yesterday that Hawaii consumers wondering what will become of their unredeemed Sharper Image gift cards should contact the company's corporate headquarters.
Sharper Image spokesman Tersh Barber did not return phone calls.
The company suspended its acceptance of gift cards in February when it was filing for bankruptcy, then began accepting them again in March as long as consumers bought merchandise equal to twice the value of the card.
But the gift cards are not being accepted at closing stores. Consumers are being directed by Sharper Image to www. kccllc.net/sharperimage to file claims. Consumers also can call (800) 344-5555.
Sharper Image has been open at Ala Moana Center for close to 30 years, and at Kaahumanu Center for 13 years.