Reported by: Lori Jane Gliha Email: ljgliha@abc15.com Last Update: 2/28 10:55 pm

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Sharper Image customers with unused gift cards could be out of luck - at least for now.

According to the company’s website, the company filed for Chapter 11 bankruptcy.

The website says, “The Sharper Image is suspending the acceptance of Gift Cards, Reward Cards, Gift Certificates or Merchandise Certificates as a form of payment. We appreciate your understanding that according to bankruptcy law, store employees, managers and the Company do not have the authority to override this directive.”

Unfortunately, customers like Mesa’s Jackie Jennings are upset. Jennings told ABC15 her gift card is worth $140.74.

According to the Sharper Image website, the company is working quickly to resolve their financial problems, and they are telling customers to “check back” with them in mid-March for an update on possible options.

Meanwhile, Brookstone, one of Sharper Image’s leading competitors, is offering a 25 percent discount to anyone who hands over their gift cards to the Brookstone store.

A customer would not be able to redeem their Sharper Image gift card at Brookstone. However, a customer would receive a 25 percent discount on their Brookstone purchase, if they present their Sharper Image gift card.

According to the Brookstone company, “Brookstone is not honoring the value of the Sharper Image gift card but instead is providing the 25 percent Brookstone Store discount in exchange for receiving the Sharper Image gift card from the customer. The discount offer is valid for all Brookstone products except Sony, Celestron, Bose, Panasonic and Tempur-Pedic.”