Log In   |  Register Free Newsletter Subscription
Skip navigation
Zibb
Subscribe to JCK Online
RSS
Reprints/License
Print
Email

Whitehall Jewelers to Hold Liquidation Sale

By JCK Online Staff -- JCK Online, 8/12/2008 3:09:00 PM

National retail liquidation and asset recovery firms will manage a court-ordered bankruptcy liquidation sale of Whitehall Jewelers Holdings, Inc., which operates 373 specialty jewelry retail stores. The sale, which will begin Wednesday, was ordered by the bankruptcy court as a result of Whitehall’s Chapter 11 filing in June.

The firms who will manage the liquidation are: Hudson Capital Partners, LLC; Great American Group, LLC; Silverman Jeweler Consultants, Inc.; and Gordon Brothers Group, LLC. The announcement was made in a joint statement by the liquidation firms Tuesday.

Inventory will be liquidated at below market prices, in a sale that is expected to last approximately four and a half months, according to the statement. Merchandise to be sold will include a selection of diamonds, gold, precious and semi-precious jewelry and watches. The liquidation sale will involve 373 Whitehall store locations in 39 states, including 78 retail locations that were acquired in April 2008 from Friedman’s Jewelers. 

“The Whitehall liquidation was ordered after exhaustive efforts to sell the specialty retail chain or obtain fresh equity both proved unsuccessful,” said Harvey Yellen, chairman of Great American Group. “As Whitehall has been a leading specialty retailer in fine jewelry for more than a century, it is unfortunate that a brand with such strong heritage has to be liquidated.”

Great American Group, Hudson Capital Partners, and Silverman Jeweler Consultants also recently managed the successful liquidation of Friedman’s Jewelers.

“We’re currently experiencing the most active period of liquidation sales in 10 years, due to a combination of consumer cut backs on peripheral spending, tightening of retail lenders and a change in bankruptcy code,” said James L. Schaye, president and chief executive officer of Hudson Capital Partners. “Whitehall, which represents the latest jewelry retailer effected by this combination, has long been a landmark for consumers who appreciate high quality fine jewelry. The liquidation sale will provide a final opportunity to take advantage of great product at extraordinary value.”

Whitehall Jewelers Holdings, Inc. and its operating subsidiary Whitehall Jewelers, Inc. have been operating under Chapter 11 of the Bankruptcy Code since June 23 (U.S. Bankruptcy Court, District of Delaware, Case #C8-11261 (CSS)).

“Whitehall has a fine reputation, and we will work to make the sale successful for all parties involved,” said William Weinstein, principal of Gordon Brothers Group.

RSS
Reprints/License
Print
Email
Talkback
Related Content
>>MORE

Advertisement

Related Microsite Content

Related Links

More Content
  • Blogs
  • Photos

Rob Bates

Cutting Remarks

Rob Bates
November 13, 2009
Update: All Finlay Sales Postponed
A source who was at yesterday’s hearing regarding the sale of Finlay assets...
More

Rob Bates

Cutting Remarks

Rob Bates
November 13, 2009
Diamond Shavings: Your Friday Web Roundup
I know it’s still not a party out there – I like to say, “the...
More

VIEW ALL BLOGS RSS
30607

JCK Las Vegas 2009

JCK Las Vegas - the premiere jewelry show in the industry. Check out our event pics!

30578

BaselWorld 2009

Parties abounded during the BaselWorld Watch & Jewellery Fair, and right in the mix were JCK staffers.

http://www.jckonline.com/rbidata/photogallery/rbius/27642.jpeg

JSA Annual Luncheon

The Jewelers’ Security Alliance held its annual lunch Jan. 10, at the Rainbow Room in New York.

» VIEW ALL GALLERIES

marketing module graphic
Advertisement
JCK Las Vegas Show
JCK NEWSLETTERS
JCKnews



Please read our Privacy Policy

About Us   |   Advertising Info   |   Site Map   |   Contact Us   |   Subscriptions   |   Affiliate Links   |   RSS
© 2009 Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.
Use of this Web site is subject to its Terms of Use | Privacy Policy
Please visit these other Reed Business sites