The view from across the hall. Cellphone pic, sorry.
From Bloomberg:
“W. Jewelers to Liquidate $750 Million of Inventory
“W. Jewelers Holdings, Inc., the bankrupt Chicago-based owner of specialty jewelry stores founded in 1895, received court approval to liquidate $750 million of retail inventory. The sales began yesterday.
“U.S. Bankruptcy Judge Kevin Gross in Wilmington, Delaware, approved the going-out-of-business sales at all 373 locations. Gross also gave the retailer permission to enter into an agreement for the liquidation with consultants Great American Group LLC, Hudson Capital Partners LLC, Silverman Consultants LLC and Gordon Brothers Retail Partners LLC.
“The case is In re W. Jewelers Holdings Inc., 08- 11261, U.S. Bankruptcy Court, District of Delaware (Wlilmington).”
Huge red, yellow, and black signs hung in the store across the hall this morning proclaiming “Going Out Of Business” and “Store Closing, Everything Goes,” along with smaller red and purple ones tacked to the walls reading, “If you don’t buy it now, it may not be here tomorrow,” “No Checks, Sorry,” “All Sales Final,” and “Emptying The Vaults!” I stopped by after work this evening and my friends told me that they were at the store until 11pm last night, hanging the signs and placing all of the blue and white “25% Off” placards in all of the cases (even solitaires) except “50% Off” ones for clearance, which until this debacle, had been selling for 60% off. There’s a yellow sapphire and diamond necklace that I want to get, but I’ll wait to see if it’s still there at 75% off. At $199.75 plus tax, I can justify it. The 10mm button pearl earrings I wanted went bye-bye in the last 400-piece stock balance to satisfy debts. My friends have been told that they will still be receiving merchandise, although from where I don’t know, and that the store will remain open through Christmas. No service plans, nor repairs, which means no ring sizing, no warranty repairs. They’ve been directed to send any repairs to our private jeweler in Pomona (who still has my pearl bracelet).
Meanwhile, I passed the second four telephone tests today and received keys to the diamond cases. Not the sit-down ones yet, but those I’ll have in a few days. I sold three things today, two with protection (service) plans, for a total of about a thousand dollars. Easy-peasy.
