Retailers, consumers and prices
Check Out Line: Sharper Image looks to follow in Wendy’s footsteps
Wendy’s, the No. 3 U.S. hamburger chain behind McDonald’s Corp and Burger King Holdings Inc, sold itself on Thursday to the investment arm of billionaire investor Nelson Peltz in a deal valued at about $2.4 billion.
Sharper Image, whose expensive gadgets have fallen out of favor in a weak economic environment, put itself up for sale in a bid to survive just two months after filing for Chapter 11 bankruptcy protection.
It may be on the block for a while. After Wendy’s put itself on the block in June, money to finance such deals has dried up as the U.S. housing meltdown and global credit crisis have pinched big banks and other sources of cash.
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