Sharper Image agrees to sell company

SAN FRANCISCO 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.

The company notified interested parties that any sale will be subject to approval of the bankruptcy court having jurisdiction of the company’s chapter 11 case. 

The company said it intends to complete the sale process and seek approval of the sale by the bankruptcy court by the end of May 2008.

Robert Conway, ceo, said that “given the present retail climate and specialty nature of the company, as well as the limited financing available to the company, a sale of its business and assets at this time will preserve values and yield the best recovery to the company.”