Friedman’s Creditors File Petition for Involuntary Bankruptcy
Rob Bates, Senior Editor -- JCK Online, 1/23/2008 3:30:00 PM
Several creditors of Friedman’s Jewelers on Tuesday filed a petition to force the struggling chain into Chapter 7.
The creditors include Rosy Blue, Eurostar, Simply Diamond, and Jewelmark. They claim debts of over $10 million.
Prior to this petition, the market had been filled with rumors that Friedman’s had tried to make a deal with its creditors to stave off bankruptcy.
The creditor’s attorney, Lawrence L. Ginsberg, who was also creditor’s attorney for M. Fabrikant and Sons, said the court had yet to rule on the petition.
No one at Friedman’s headquarters could be reached for comment.
The company went into Chapter 11 in February 2005, but emerged from it as a private company less than a year later.
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Mr. Brown, I would call some of the other stores in your area and check with them.. I am currently still an employee with Friedman's and the last I heard about it was that you could still redeem your certificate but you can't purchase more cerificates...unless theres been an update to that I haven't heard...My best advice would be to call around. some of the stores may not know for sure if they can take them or not.
best wishes
Heretiltheend - 2008-26-4 11:35:00 EDT -
Does any one know if Friedman customers can somehow redeem Gift Certificates. Our local store in Jesup, Ga will not accept our gift certificates.
Thanks, Pierce
Pierce Brown - 2008-25-4 19:03:00 EDT -
Isn't the real reason they moved to Texas was because of Pam Romano (formerly of Zales and supposedly the visionary of "the diamond store), and so that she and her team could poach people from Zale Corp's headquarters? Having their HQ in Georgia couldn't have been too bad, as Sterling's is in Ohio...
Mall Jewelry Boy - 2008-25-2 09:39:00 EST -
If the company did not spend all that $$ moving the headquarters to TX, maybe they would now have some money to pay their bills!!
Noodle - 2008-24-2 18:20:00 EST -
Not all the chain jewelers are having problems. The ones that are doing
the right things the right way, aren't. I have a friend, who until very
recently, was a manager with Friedman's until he came to work for my
company, and he showed me the schedule of hours for December. It was
ridiculous.
Good luck to anyone that's currently employed by them.
Working for one of the good ones - 2008-2-2 07:12:00 EST
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