Court approves sale of Sharper Image

SAN FRANCISCO The United States Bankruptcy Court for the District of Delaware has approved the sale of Sharper Image. The court agreed to allow the company to sell all or part of its assets at an auction to be held on May 28.

In connection with those procedures, the court also authorized the company’s entry into an asset purchase agreement and an agency agreement, each dated May 13, with a joint venture of Gordon Brothers Retail Partners, GB Brands, Hilco Merchant Resources, and Hilco Consumer Capital. Hilco/GB Joint Venture will serve as a stalking horse bidder for the purposes of the auction.

On April 24, Sharper Image reported that it has decided to pursue a sale of its business and assets pursuant to the provisions of the bankruptcy code and will solicit indications of interest from potential acquirers.