Once On Cutting Edge, Sharper Image Files For Ch. 11

Law360, New York (February 20, 2008, 12:00 AM EST) -- Sharper Image, the high-end home-gadgetry store and catalog retailer, has filed for bankruptcy protection and intends to shut down 90 of its stores as part of a restructuring agreement. A major factor in the company's crisis was a slew of class actions alleging that its signature product, the Ionic Breeze air purifier, did more harm than good.

The San Francisco-based company submitted its voluntary petition for Chapter 11 on Tuesday in the U.S. Bankruptcy Court for the District of Delaware, citing, in addition to the class...
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