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chatsworthbob

The Sharper Image Not Honoring Gift Cards, Certificates

June 17, 2008 4:50pm

The Bankruptcy Court should NOT assume that the funds received by Sharper Image in the form of Gift Cards are assets of the company.

These funds ARE different than the funds invested by shareholders and are different than goods supplied under a purchase arrangement to Sharper Image by its vendors and suppliers.

The Gift Card Funds, held in Trust by Sharper Image are “unfulfilled sales”.

Instead of exchanging cash at the time of purchase, or extending credit in exchange for the consumer’s transaction, Sharper image was given cash TO HOLD until the gift card’s recipient came in to select the gift.

The gift card holder’s funds, purchased in “good faith” should be returned to them 100% on the dollar as the funds had not yet been earned by Sharper Image.

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