Yikes! Looks like I got out of FPC just in time. I could tell the company was going into murky waters, but never expected Chapter 11! The company was doing really poorly, with the new designer lines and move upscale failing horribly. Also, I never understood what exactly their relationship was with LID, and why they couldn't get better prices on merchandise from a supposed mother company.

Note that the Only Diamonds nameplate is no longer used (the last store was rebadged as Brendan, all other ODs were closed before that), and they were in the process of trying to rebadge JC Keepsake as Brendan as well.

Is it just me, or is it weird that a fine jewelry retail corporation in obvious trouble has 24 Hour Fitness as a creditor?

Please keep us updated on this!

I am sorry to hear this news as it will affect the lives of many families while Four Points redirects its future.

A recruiter arranged an interview for me at LID for a senior position at Four Points about four years ago.

The interviewer spent an hour trying to impress me, letting me know He was genius and that he had a brilliant idea for a new business model that would make all the other jewellers obsolete.

I thought the idea would never fly; the interviewer had limited retail jewellery experience. It was the only time in my long career that I politely disagreed with an interviewer.

I have never forgotten that interview and I am glad I trusted my instinct.

Trusted my instinct: I still know many good people at FPC that put a lot of hard work into the company, and I hope they will be okay. I think I know who this interviewer you are talking about is too. He's probably the same person who was instrumental in the new merchandising strategy which resulted in all of the Open to Buy being used up on extremely overpriced 18k diamond micropave fashion pieces (from LID, of course) that never ever sold. Changing a discounting mall jeweler into a high-end luxury jeweler did not work.

It's amazing that a company that's owned by a DTC sightholder, that's a manufacturer,can't get it together in the retail business, but they hire good people, then won't let them do the jobs they're hired to do. They need to get out of the retail business and quit negatively impacting peoples lives.

Oh, and Former Brendan: WHAT open to buy??

They had the luxury of having one CEO with retail jewelry experience. The others were a lawyer, a banker, a teacher and now an architect. I am sure the architect can "build" them back up.

The former brendan employees that have posted need to get on with their lives. Sure hope your current jobs are getting the attention that four points is getting from you. Get over it already.

Jeez, been there too, you are entitled to your opinion, but I think the discussion so far has been informative and respectful. This is an important story that impacts people lives. I should add that I have been trying to interview someone from FPC since last week. If I do get some comment, I'll post it here (as well as put it in the magazine.) I do think it's important they let JCK readers know what is going on with their company.

They've had more than one CEo with jewelry experience, but have gone through 6 since FPC's first acquisition in 1998. This probably means that leading this company can't be easy....but wouldn't one wonder WHY?

FPC is now down to 15 retail locations, and have even closed their newest location (Northfield Stapleton, CO), which was opened in 2006. From my research, there has been a lot of management upheaval as well. Stores closed were underperforming and often functioning as clearance outlets. Two of the remaining 15 are "freestanding" non-mall locations, being former "Only Diamonds" stores (Nathan Light's diamond-centric Jared-like concept). Only one store remains in the Kentucky, where the company has its headquarters.

Over this past weekend I now see "Everything must go" and "40% to 70% off entire store" signs at 1 Brendans and 1 JC Keepsake in the Denver area. Is THE END near?

Hi, Justleft ... Just checked on this, and the news doesn't look good, sorry to say, but I'm trying to see what else I can find out ...

Looks like the company is in liquidation. Samuel's/Gitanjali buying them up is the only hope. Notice the signs match Whitehall's almost exactly, and everything is price ticketed? Rob, is there going to be an official word on this?

So this is what I know ... I spoke to one of the people who was VERY involved in the case who says the remaining 15 stores will liquidate. It was a little hard to tell from the court papers, so they weren't conclusive, which is why I didn't put a story up, but barring any contrary information, I think we can assume that is what's going on.

They're done...shutting down the stores after Christmas. Headquarters is shutting down mid-January.

I have to say that there was definitely a series of poor leadership choices made by the owner of FPC. I was at the main office for three years, and I saw so much turnover that there should have been revolving doors on the Big Office. Most of them seemed more interested in getting free furniture than they did in salvaging that company! My sympathies go to those who are still embroiled in the loss of their paychecks and insurance in this awful economy. I still have friends there, and I completely blame this whole meltdown on the poor business acumen of the owner.

Well...are they closed? The phone number just rings busy??

Yes, they are closed. The entire company is shut down, and the main office employees have been let go.

So what happens to the little people that had bought diamond rings that have warranties and lifetime coverage? Where do they go to keep that or is there a place?

Trina: Unfortunately you now have no warranty, as the company that issued and serviced it is defunct.

what do you do if you owed them money..where does it get sent to??

Did you owe Four Points money or do you owe on the Brendan Diamonds credit card? The credit card is third-party and owned by GE. You still have to pay, because you owe GE, not the jewelry company. Your statement SHOULD tell you where to mail your payments...or you can call the 1-800 number on the back of the card.

Someone I know owes the company money not the credit card...where does that go? Did they file a bankruptcy that would get it?

The bankruptcy trustee should have come after the debt. If the case has been closed, the debt has either been written off or sold to a collection agency (probably the latter).

Sorry...Do you know what city, state or county the bankruptcy was filed? Thanks!

The case was filed in US Bankruptcy Court, Southern District of New York, number 07-13418. The phone number of the US Trustee is (212) 510-0500. But really, hmmm, the case has been closed and the company no longer exists, so I wouldn't worry if you or someone you know owes them money. They probably owe money to people too. As all the other commenters noted, if it's worth to it whoever's controlling the company at this point to collect that money, then they will.

Just found out today they went under. [sigh]

Nice to hear the "inside" opinions here.

Too bad, but no surprising. When a company can't weather an 12% downturn over the course of 24 months - that says much about the business acumen. The practice of credit card financing is the retail business cigarette - a slow and painful end for people who make really dumb choices.

"There is no try, only do or do not."

Yoda-

Is there a way to find out what address mail has been forwarded to from their home office on Linn Station Road? I have still been sending money I owe the company there and the office is closed and I have not been informed of a new address for them and I know the company is now closed but nothing is being returned...just wondering where/who is getting it. Thanks




Moderator responds: Hmmm, I am not sure why you are sending money to a company that doesn't exist, but I would STRONGLY recommend contacting the trustee above if you are serious about this. And I think we can close this topic ...

Its actually because I called the post office to see where the mail was being forwarded to from their old main office and was told it was being forwarded to a local address not a NY address but the PO won't give me the address...just trying to find out where the mail being sent to 10300 Linn Station Road Suite 400 louisville Ky is being forwared....

Can't your bank at least tell you who is cashing the checks? Seriously, I can't believe you would be sending money when you have no idea who is getting it.

I worked for FPC. Love the people, the the job, hated the way it was being run. Once the owners came in and started to micromanage things it only got worse. I'm glad I got out when I did. I only hope those who worked for them are on to bigger and better things and are happier.