Bankrupt gadget retailer Sharper Image plans to close all its remaining stores, its new owners announced Sunday.

The company expects to sell $50 million in inventory as it shutters 86 stores across the United States, the joint owners of Hilco Organization and Gordon Brothers said in a statement.

The group, which purchased the gadget retailer’s assets in a bankruptcy auction Thursday for $49 million, said it has developed a licensing strategy for wholesale, retail, direct-to-retail, e-commerce, and catalog businesses.

Sharper Image filed for bankruptcy protection in February with plans to shut about half of its 184 stores and reorganize. The San Francisco-based company said it had lost more than $135 million since early 2005. The company put itself up for sale in April.

Source: Steve Mosil.