South Florida Bankruptcy Lawyer

Specialty electronics company The Sharper Image filed for Chapter 11 bankruptcy protection earlier this week. The company, which had denied its financial difficulties since August of last year, has suffered from poor store performance, increasing competition, and lower consumer confidence. In addition to economic factors, Sharper Image has also seen its reputation crumble in the wake of a consumer lawsuit alleging that its Ionic Breeze air purifier did not perform as advertised.

In its court filing, Sharper Image said it had $251.5 million in assets, $199 million in debt, and only about $700,000 cash on hand.

Large companies often file bankruptcy in order to gain time to restructure their finances and get a fresh start. Are you in need of a financial fresh start? If so, call Boca Raton bankruptcy lawyer Eric N. Klein at 561-353-2500 today.