SAN FRANCISCO--(BUSINESS WIRE)--Feb. 20, 2008--Sharper Image
Corporation (NASDAQ:SHRP) announced that it had commenced a case under
chapter 11 of the Bankruptcy Code in the United States Bankruptcy
Court for the District of Delaware. The Company intends to continue to
conduct business as usual while it devotes renewed efforts to resolve
its operational and liquidity problems and develops a reorganization
plan.
About Sharper Image
The Sharper Image is a specialty retailer that is nationally and
internationally renowned as a leading source of new, innovative,
high-quality products that make life better and more enjoyable. The
Company's principal selling channels include 184 Sharper Image
specialty stores throughout the United States; the award-winning
Sharper Image monthly catalog; and its primary Web site,
www.sharperimage.com. The Company also has business-to-business sales
teams for marketing its exclusive and proprietary products for
corporate incentive and reward programs and wholesale to selected U.S.
and international retailers.
Forward-Looking Statements
This release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements are based on the Company's current plans,
expectations, estimates, and projections about the specialty retail
industry and management's beliefs about the Company's future
performance. Words such as "anticipates," "expects," "intends,"
"plans," "believes," "seeks," "estimates" or variations of such words
and similar expressions are intended to identify such forward-looking
statements. These statements are not guarantees of future performance
and are subject to risks and uncertainties that are difficult to
predict and which may cause the Company's actual results and
performance to differ materially from those expressed or forecasted in
any such forward-looking statements. Some of these risks and
uncertainties are discussed in the Company's Annual Report on Form
10-K for the year ended January 31, 2007 under "Risk Factors". These
risks include, among other factors, the success of its new business
strategy, its ability to continue to find or develop and to offer
attractive merchandise to customers, the market potential for products
in design, the success of its advertising efforts, changes in business
and economic conditions, risks associated with its retail store,
catalog and Internet operations, and changes in the competitive
environment in which it operates. Unless required by law, the Company
undertakes no obligation to update publicly any forward-looking
statements. However, readers should carefully review the statements
set forth in the reports, which the Company files from time to time
with the Securities and Exchange Commission, particularly its Annual
Report on Form 10-K, its Quarterly Reports on Form 10-Q and its
Current Reports on Form 8-K.
CONTACT: Sharper Image Corporation
Tersh Barber, 415-445-6274
VP, Finance
SOURCE: Sharper Image Corporation