Joint Venture Wins Sharper Image Assets For $49M

Law360 (May 30, 2008, 12:00 AM EDT) -- Gadget retail chain Sharper Image Corp. on Thursday sold off its assets in a bankruptcy auction to a stalking horse bid by a joint venture of private investment firms. The firms, led by units of Hilco Consumer Capital Corp. and Gordon Brothers Group, will pay $49 million for the company.

Besides the $49 million price, the joint venture will also pay some contingent recovery for assets of the company. As the stalking horse bidder, the companies could have received a breakup fee of up to 2%...
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