NEW YORK — A New York-based retailer of shark apparel has raised the price of its flagship shark steamer to $1.5 million, a deal that was struck during the company’s bankruptcy, according to company and court documents.
The $1 million sale price reflects a $750,000 increase in the current sale price for a shark steaming machine, a $1-million increase in an existing $1m sale price, the documents said.
The price increase for a new shark steamed machine has not been disclosed.
The shark steams are the first and only products sold by Shark Clothing, which has been the leader in the shark-repellant market since it started selling shark clothing in 2007.
It has been selling shark-resistant gear for more than 30 years, but the company went into bankruptcy last year.
Its bankruptcy was part of a wave of bankruptcies by manufacturers and retailers, including Walmart and Target.
They were all sold off and then liquidated, as part of the government’s plan to help small businesses.
The federal government also offered incentives for businesses to move to bankruptcy, and some businesses have said they plan to continue selling the products they manufacture for a long time.
Shark Clothing also announced last week that it is in talks to acquire a Canadian company that makes shark clothing.
The company’s stock is up more than 7 percent this year.
Sharks are highly sought after by collectors, and have become a lucrative commodity.
The government has tried to discourage shark-related businesses, but has not yet worked to get them into bankruptcy.
Shark Steamer sales have surged in recent years, especially in China, where demand is higher.
The bankruptcy of Shark Clothing came a week after a Florida-based manufacturer, Lululemon Athletica, filed for bankruptcy protection, which would have saved it about $4.2 million.