Sharper Image plans to sell itself

Gadget seller Sharper Image Corp. intends to sell itself or its assets and is looking for buyers.

The San Francisco company (Pink Sheets: SHRP) filed for Chapter 11 bankruptcy in February after years of falling sales and failed attempts to bring in revenue through multiple license sales, including putting the company's well-known brand on "zero-g" airplane excursions where passengers experience weightless periods.

Robert Conway, the company's CEO and head of a crisis and turnaround advice firm, said a sale is the best deal for Sharper Image given the current retail climate.

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The company hired Conway, who works for New York-based Conway, Del Genio, Gries & Co., in February to replace Steven Lightman.

Jerry Levin, the company's chairman, quit on April 9. On April 15 the company told the Securities and Exchange Commission it wouldn't file its required financial report for the year ended Jan. 31 on time due to the bankruptcy filing.