After years of falling sales, Sharper Image (NASDAQ: SHRP) has filed for bankruptcy.

Bloomberg writes “Sharper Image is in a severe liquidity crisis that is attributable to a host of factors,” Rebecca Roedell, chief financial officer of San Francisco-based Sharper Image, said in court papers. “The foregoing has been compounded by the ever- tightening and volatile credit and financing markets.”

Shares are down over 30% in the pre-market, trading at $1.

Douglas A. McIntyre