Sharper Image, Lillian Vernon file for bankruptcy

[AlphaCentauri]

Source: Routers

NEW YORK (Reuters) - Two catalog retailers, Sharper Image Corp (SHRP.O: Quote, Profile, Research) and Lillian Vernon Corp, have filed for Chapter 11 bankruptcy protection, hurt by falling sales and worsening credit market conditions.

...

"We do expect a significant increase in business bankruptcies," said Richard Hastings, an economic adviser specializing in retailing for the Federation of Credit and Financial Professionals in South Plainfield, New Jersey. "A hit to consumer expenditures is exacerbating weakness in many consumer and retailing businesses. We expect this cycle to persist, easily, for 18 months."



Read more: http://www.reuters.com/article/hotStocksNews/idUSN2034611020080220

[MissWaverly]

1. not my pal Lil, I have one of her wreaths on my door

and am a regular customer,

sigh
:-(

[roguevalley]

21. this is too bad.

[TomInTib]

2. Oh, no!! Now where will I buy overpriced, useless crap?

Damn.

[Tesha]

5. Brookstone. (NT)

[sarcasmo]

17. "Where will I buy my overpriced, useless crap" made in China from?

I did use quotes, LOL.

[comradebillyboy]

3. I sure won't shed any tears over Sharper Image going

belly up. Overpriced mostly useless glitzy crap. Back in the 80's I think Sharper Image Catalog was called Yuppie Porn.

[juno jones]

28. In the late eighties

I lived in downtown Seattle a few blocks from the Sharper Image store. My boyfriend and I would do irrationally juvenile things like press our faces up against their windows to make pig faces at the yuppies inside.

I know, it was stupid. I suspect the the helplessness we felt in that era drove us to stuff like that.

Sympathy for those that have lost jobs, but please look on this as a chance to work for someone less evil next time.

[slackmaster]

4. Better order that Turbo Nose-Hair Trimmer now!

[Delphinus]

6. This is what gets me:

it's OK for businesses to file bankruptcy, but not individuals.

[libbygurl]

10. You do know that corporations have more rights and privileges than individuals do...

...in today's America?

Go watch the excellent documentary DVD, 'The Corporation', if you haven't yet. Great, great, illuminating stuff that explains everything in plain language and graphics.

[Delphinus]

13. Thanks for letting me know of the documentary.

I've *NOT* seen it - and I'll probably need a strong stomach to watch, but I shall.

[libbygurl]

19. You're welcome. It should be required viewing for everyone. It's very well done,...

...and uses very spiffy graphics, but gives you the facts which don't get spoken about much in the mainstream media.

I knew that corporations got a lot of perks today, but after viewing this docu, I was completely aghast at how much!

Enjoy! (sort of)

:hi:

[pinniped]

7. Crap, where are we to go for our free massage chair massage?

?

[cliss]

8. Actually, this is much worse than it looks.

Lillian Vernon and Sharper Image are mail order companies. They typically have higher profit margins than retail operations like Sears or JC Penney. They don't have to spend so much money on overhead like the other companies (even though Sharper Image does have some retail stores).

Mail order relies more on J.I.T. (just in time) ordering, often they order from other suppliers they just handle the sales & marketing = meaning, they don't even have to hassle with large amounts of inventory.

Inventory is a real drag on businesses.

= meaning if these companies are going belly-up, just imagine what is happening with the higher-cost companies.

[heliarc]

9. Its ok.... don't worry

Bush tells us the economy is fine and I'm sure there's a bailout package for Sharper Image. --sarcasm--

[girl gone mad]

11. People can find most of their products..

cheaper through ebay, amazon, etc.

I never even look at calatogs anymore, they just go straight into the recycle bin. If I want something, I search for it online. They couldn't adapt to the new marketplace and that's their real problem.

[Lady President]

22. Not if you don't have a computer

Lillian Vernon is a favorite of my grandmother, who is 90, and her friends. The catalog is easy to read and customer service is used to catering to older customers. I'll order for her online, but she likes her independence.

Personally, I do the vast majority of my shopping online too, but we need to remember that this isn't an option for everyone. I worry a little that everything is computerized these days. More and more companies are blocking non-work sites, and fewer people can buy new computers because of the economy. I think successful companies need to be diverse-- solid websites, catalogs and brick & mortar stores.

[rucognizant]

20. Our $ store has cut back days!

It's only open 3 days a week now! And our only restaurant has closed, the lobster catch was down 34% in '07. ( They were almost the only ones in town with disposable income! Well wxcept the contractors & I guess building will slow down now!)

[BrotherBuzz]

12. I built and installed the SF Sharper Image catalog store back in the early eighties

I laughed at the crap they were selling and was convinced they would be out of business in a year. I was wrong. To their credit, they paid their bill faster than any company I ever did business with.

[derby378]

14. I've bought stuff from them before, and IIRC, they supported Democrats...

Wonder if this means some SI retailers are going to hold a fire sale?

[BrotherBuzz]

18. Sharper Images has nothing that interests me in the least - NOTHING

I assume their junk will be disposed through those discount liquidation stores instead of a fire sale because it costs money to staff the stores during the fire sale - money they don't have.

[triguy46]

15. Without Lillian Vernon, where will we get our facial massagers?

[Ian David]

16. Sharper Image is a "Blue" company. On the other hand...

... they've also poisoned a great number of people with their stupid ozone-generating air "purifiers."

[raouldukelives]

24. My dad..

Has one of those SI air cleaner units. Is it bad for you?

[Ian David]

27. It depends on when he bought it.

The older SI air filters have Ozone Generators which Consumer Reports rates as dangerous.

The newer ones have Ozone DESTROYERS.

[inMD]

29. FYI

Just a FYI

You know how you could get washable electrostatic and HEPA filters for you HVAC, but would have to run that huge energy burning fan full time for it to filter the air.

So your options were an expensive Sharper Image Air Purifier with fanless air movement, washable metal collection plates and UV or much cheaper HEPA Portable Air Filters Units where the filters had to be replaced at considerable cost.

Well, now you can get cheaper HEPA Portable Air Filter units with Washable Filters!!!!

[TankLV]

23. Lillian Vernan - the place that sells all that USELESS KRAP?! Sweet!

Their catalogs are a waste of paper - it's one THE top annoying companies of all time IMO...

No fucking great loss...

Homes all over amerikkka will be more dust free within a year finally!

[Freddie Stubbs]

30. I'm sure the workers who will now be unemployed do not share your enthusiasm

[jberryhill]

25. However....

Lillian Vernon sells a great monogrammed bankruptcy file docket caddy.

[DaveJ]

26. Just another problem with corporate practices

They go from decent legitimate organizations, into uncontrollable behemoths, unable to exit gracefully once their time has past.

Hope they don't take down any honest businesses during their collapse.