Four Points Goes Chapter 11

I can not believe all the comments and all the hate when it is not the employees fault due to the CEO and owners. As a Manager I always had to have a approval through my District Manager. Yes you chose to work at a company but what are you to do when you work hard and follow the rules. Everyones experience is different. I had good times and I had bad times, like when they relocated me and then went bankrupt and left me with the bills. Do your job or go look for another job, how old are we? This is life!
I worked hard and even with bad times it was good and I have learned from my experience with this company.
To all my co-workers, I miss you and the memories so lets keep in touch!
Mona Clevenger
monz@vzw.blackberry.net

FYI...apprently (from what I have been told) a company called:
LS ASSOCIATES LLC
462 S 4th St Ste 1770
Louisville , KY 40202
(502) 583-1945
has bought Four Points Corp which is where my payments are being sent to. I am not sure who they are...can't get anyone to give a straight answer...I was under the impression they went out of business and were not sold to another company.

Once again....it has been several months and when I called with the information you provided below...they tell me that the case was dismissed. I have sent several notices to the post office and home office...someone cashed them and it would be nice if I knew who did...I have never gotten any return mail or anything with a forwarding address...this is ridiculous.
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.

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.

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.

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....

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 ...

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-

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.

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

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).

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

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.

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

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

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?

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

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

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.

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

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.

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?

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
...

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?

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.

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?

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.

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.

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.

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

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.

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.

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.

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!