Sharper Image Files for Chapter 11

The retailer of such irresistible goodies as high-tech air purifiers, noise-canceling headphones, comfy massage chairs, and life-sized Darth Vader figures is apparently hanging by a thread.

Reuters is reporting that Sharper Image, a mainstay in shopping malls and a frequent contributor to my pile of junk mail, has filed for Chapter 11 bankruptcy protection. The company is seeking a $60 million loan to keep its doors open, according to the Reuters story.

But wait—how could this happen? Every time I pass a Sharper Image store, it always looks packed with shoppers ogling the latest in MP3-equipped shaving mirrors, ultrasonic humidifiers, LED grill lights, atomic clocks, and remote-controlled R2D2s. Indeed, I can rarely resist the urge to roam the Sharper Image aisles myself...

...although, come to think of it, I've never really walked out with anything. Maybe that's why the chain is facing "a severe liquidity crisis," according to CFO Rebecca Roedell, adding that Sharper Image has been hit with "increased competition, narrowing margins, litigation, lower consumer and market confidence...and poorly performing stores," Reuters reports. The AP also notes that a Consumer Reports story slamming the chain's signature Ionic Breeze air purifiers (Sharper Image fired back with a lawsuit, which it lost) didn’t help.

So if you've been hankering for a final chance to shop for Darth Vader helmets, ultrasonic rat deterrents, form-fitting sleep marks, or the GPS-equipped SkyCaddie, now's the time. Or just visit SkyMall.

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Sharper Image files for Chapter 11 bankruptcy [Reuters]