electronics: January 2009 Archives

Its stores are gone, but the licensing deal is complete. The Sharper Image brand transformation is underway. A consortium of private-equity firms is managing a transition intented to leverage the Sharper Image equity despite the failure of its retail business. The plan is to offer relatively affordable products at popular stores like Bed Bath & Beyond while maintaining the aspirational nature of the Sharper Image name.

Shaper Image, which closed its retail outlets in June, first sold its name to Homedics under the licensing agreement now underway.

Having failed to find a buyer, Circuit City is expected to announce its liquidation today in a court hearing. The company appears to have hired a liquidator and completed an asset auction. Circuit City has already closed around 20 percent of its stores as part of its previous bankruptcy filing.

No official announcement has been made by the company, but Rex is closing a good number of its store this winter, which is garnering attention in local markets. Stores in Pensacola and Tallahassee, Florida; Indiana, Pennsylvania; and Enid, Oklahoma are all entering liquidation sales. Rex was considering a retail restructuring last month but has not issued word on whether these store closings are part of a larger plan. The company sells synthetic fuels and ethanol in addition to operating its 100-plus-door retail electronics chain.

Update, January 13: The Rex in Albany is closing as well.