Whitehall Update
By popular request … A source close to the situation gave me the following update on Whitehall:
- At last night’s auction, which ended at about 4 in the morning, Gordon Brothers, a liquidator, had the highest bid. However, the company may or may not accept the bid. And even if the bid is accepted, some stores may still be sold off.
- Australian company Michael Hill is said to be interested in 17 stores, in the Midwest.
- Indian company Gitanjali, owner of Samuels, is said to still be interested in picking up some stores.
- A possible settlement is in the works for the consignment issues, because despite the judge’s ruling on Monday, the issue of “perfection” has still not been completely settled.
My source feels some store closings are inevitable. But things are still extremely fluid. And of course, the court has to approve everything.
Finally, I have absolutely no info on which specific stores may be saved, other than what I just wrote. We will all just have to wait and see.
UPDATE: See story on main site.
UPDATE TWO: The latest from Gitanjali here.
pauncho commented:
guest commented:
I know of one person, in charge of a lot of people(read between the
lines)in a certain area of the country (not chicago)that they
should tell customers whatever they feel is right. Needless to say,
this area is not doing too well and will definitely be one that is
closed. But that is the attitude out there. I feel right now that a
lot of wind has been taken out of the sails of the current
management group. Things are not going according to their master
plan. So if anyone needs buyers or office help, I am" sure a lot of
people" downtown are looking for a position. Some good people down
there, along with maybe some not so good.
merry christmas commented:
Rob, Any news on Gitanjali buying out any Whitehall leases? I have
not heard anything since October the 1st.
FmrFrdmEmp commented:
Moveon, I "got my info" on overtime because I was there...and
earned quite a bit of overtime with Friedman's liquidation. Again,
check your state laws. If you are not getting paid overtime as a
salesperson, I'm sorry for you. Of course, if you are a manager,
you wouldn't get overtime anyhow. Good luck to you. I was not being
critical of your attitude, I was being critical of your thought
that Friedman's employees had it good during liquidation.
mvnon commented:
well it has been interesting here to read the posts, especially the
comment on my attitude, and just to share there have been many
offers for me to moveon as jobs are everywhere here in my area. and
as far as overtime goes, I don't know where you got your info, but
we are already short staffed and pulling doubles and no one is
getting overtime.. and just to share as soon as I am done with drs
appt from a recent surgery and I have used up my vaca time I will
be mvnon.
fla commented:
Thank you so much choking on pearls. It is amazing the bonds that
you form from phone conv. through the years and I really would like
to hear that "season" is doing ok. Best of luck to ou too! We
probably already know each other... Take Care
choking on pearls commented:
OK Fla, i guessed the name of the person you are looking for, i
will try to find out and let you know. Good luck on your new job !
one door closes, another opens. lets see what's behind door # 2.
BEST OF LUCK TO YOU.
fla commented:
choking on pearls and 1st group cut congratulations ... I start my
new position on Tuesday also! If any of these people were per-say
in the inven. dept. at H.O and were in 1st group cut I am trying to
contact a great person. I know we can't mention names. But, if
there is any one named after a season of the year...please respond
or let me know where I might find her! Thanks I appreciate it.
mark commented:
It appears no real effort except signage until the liquidators come
next week.
Choking on Pearls commented:
Thank You 1stgroupcut, Good luck to you on your new job! come see
me when ever you are in the area, I would love to know how your new
job is working out, and how you are doing.
1stgroupcut commented:
Choking on Pearls - great news! I am happy they will keep the IL
stores open and you with a job. It's rough out there! My new job
starts Monday. Good luck to all!
Choking On Pearls commented:
Its official, we got a visit today from the Micheal Hill
Reps,brought in a welcome package, a nicly put together folder with
a dvd about the company along with other literature. They seem like
a good companey to work with, the court date to sign on the dotted
line is for the 28th of this month, M. H.ltd is suppose to take
over on Sept 2.
Just wondering..... commented:
Thanks for the information. Wish us luck!!!
I Care commented:
Whitehall's Attorney Name and # is Phone: (212) 969-3000 Fax: (212)
969-2900 Attn: Scott Rutsky, Esq.
Rob Bates commented:
"Just wondering" ... They should contact the WH bankruptcy
attorneys, who, one hopes, could at least steer then in the right
direction ... If you go to the WH bankruptcy page,
tinyurl.com/5a886y, their contact info is all there. Good luck.
Just Wondering.......... commented:
Hey Rob, If I know someone that is interested in buying 1 or 2
Whitehall stores who would they contact about making the
purchase????
previous employee commented:
Does anyone know what happened to Matthew P. and the old crew? What
a sad ending to a long story. It does matter how you treat your
employees!
sadlongtimeemployee commented:
as long as the doors are open i will stay.i'm lucky to be in one of
the 17 stores that are to be bought.as sad as i am to see whitehall
go...i'm curious and excited to see what the new company has to
offer.i've had great memories here...and we can just take this day
by day and hope they will tell us whats going on sooner rather than
later...
fla commented:
been there , thank you very much I will exhaust my vacation pay
before I put my keys down. Thank You!
been there commented:
Vacation pay is not required by U.S. law, according to research
resources at this writing. In fact, U.S. employers don't have to
offer vacation time off even without pay. Vacation pay is strictly
voluntary for employers, but many offer it as a benefit to attract
and keep employees. If employers do offer vacation pay, then
employees are entitled to it under the terms and conditions in the
related policies or employment contracts. If employers allow
vacation pay to accrue by policy or contract, in some states, such
as those listed below, they must offer the accrued vacation pay
when employment ends. California Illinois Iowa Louisiana Maine
Massachusetts North Carolina Oregon Rhode Island Tennessee
FmrFrdmEmp commented:
Hey MoveOn, I can't tell you how many times Whitehall people came
into our store during liquidation gloating over the fact that we
were going out. I worked for Whitehall during the Christmas
04-Jan05 insanity and got out then. Friedman's was a stop-gap
measure for me until I completed my degree. You don't know "how
good we had it" at the Friedman's liquidation because you were not
there. Your liquidation is only a few days in. Let's see how you
feel around week 8 or 9. As far as vacation goes, check your state
laws. If your state doesn't protect you from losing your vacation,
then you are out of luck. We found out we were liquidating from
JCK, before Friedman's officially told us. Please don't think it
was all roses. Yes, the signage is horrible. Yes, only the
management at the store gets an incentive bonus to stay. Yes, your
liquidator will get on your nerves. But, overtime is still a
possibility as people in your stores begin to bail. If you are
unhappy Moveon, you should do as your name implies.
fla commented:
so many comments so many aggrevations so many f-ing "wonderful"
signs in our once nice stores! I just can't wait to get an
offer...I won't even give a days notice. Take Care All!!!
MoveOn commented:
Here's a ittle clarification for all you happy ex's. No one is
saying the liquidators are the bad guys. First, they do not own
Whitehall, they are contracted liquidators. Yes it's strange but
look it up. Whitehall is still footing the bills., And f.y.i: I
know from some people directly (not only store but upper) they are
NOT getting all their vacation time. They were told directly they
didn't feel they should pay it all.(And they should get in line and
sue if they wanted it) Quite a contradiction to what they
originally put in their emails and letters. This is what I and many
others take exception to. They should not make promises they have
no intention of keeping. I agree, if you don't like it move on.
That's my point. Don't stay for empty promises. Friedmans handled
things much better than Whitehall. Glad many of you had good
experiences but don't be so quick in your judgement of what
Whitehall people are going thru. You wouldn't like being treated
this way and we would love to be treated as good as you were. We
don't have it as good as you.
also been there commented:
amen! Times are tough movnon! 1 1/2 % of something is better than
100% of nothing.
been there commented:
to mvnon-surely someone w/ such a positive outlook has been
approached by the compition! newsflash...you get the same amount of
money as before w/out goals or pressure and the mdse sells itself.
I went through the 17 store closings a few yrs back and as a former
manager (left wh 8 mos ago cause i saw it coming) and a trained
monkey can sell at the low prices. I feel bad for everyone goiung
through this now but quite frankly, as a manager, I'd pay you to
move on.
mvnon commented:
I work at a wh up here in new england.. and I just got the word..
NO bonus to stay on and NO exta comm other than the 1 1/2 % we have
already been getting, unless u r the manager or ass manager...talk
about cheap aholes...now I guess there is no reason to stay on...
glad I stayed commented:
this is for move-on The liquidators aren't the bad guys here, You
are no longer owned by Wh. You will get your vacation no matter
what your State laws are. Maybe you should move on and I know some
unemployed Frdm employees that are very knowledgable that will jump
at the chance to fill your spot and make the big bucks. Yeah your
company ripped you off. Now you have a new owner. Suck it up or go
find another job. Let someone work that wants to make a living for
their families. I say think this thru. do whatever is best for your
situation in life, if you have a solid job offer take it, if not
then make what you can while you can. I wish everyone the best
during this trying time. The liquitators will make their money with
or without you move-on.
FmrFrdmEmp commented:
Good point Floridajeweler. In Tennessee, the law states that a true
liquidation like this one can only last 12 weeks. Besides,
merchandise will dry up fast. They will close stores quickly to
fill up more productive stores. Good luck.
Floridajeweler commented:
What makes you think a majority of the stores are even going to be
open for the Christmas rush? I think you'll find a small minority
of stores open for business by the time December rolls around.
MoveOn commented:
FYI for everyone in the field. Don't count on the big boys in
Chicago keeping their word on any bonus/commission packages they
offer. They're already ripping us off our vacation time. Although
my understanding is they are required by IL law to pay all your
vacation they decided to use the bankruptcy to stiff you on some of
it if they think you're getting too much money.No severance for
anyone, stealing your vacation $ (when they wouldn't approve the
time because of this big mess they made out of things). And how
bout that great support office in Chicago? Anyone have any luck
getting thru? I know for a fact they already threw most of them out
like yesterdays garbage! The ones that are left are getting out as
quick as they can. Can't blame them. Everyone should look out for
themselves and get out as soon as possible. When their precious
Christmas rush comes they won't have any knowledgeable staff in the
stores or corp. Let the big boys work and make the top $$$ for the
liquidators. Good luck to everyone out there.
Rob Bates commented:
Just put up a post on top after my talk with Gitanjali. The upshot
is, as the poster above said, nothing is likely to happen until all
the stores are liquidated. (Aside from any sold to Michael Hill.)
Mall Jewelry Boy commented:
Thanks for sharing your information, Choking on Pearls.
Choking On Pearls commented:
TO: Curious I think they were putting a pay package together for
the liquidation stores yesterday, again ,, nothing was put in
writing to employees, lets just give it a few days, we should know
more, everyone is waiting.
curious commented:
any word on rvps and dvps? any word on incentives from liquidators?
Choking on Pearls commented:
Although no official conformation as of yet, it seems the 17 "
going concern" store have been bought by the Michael Hill CO. Still
waiting on the official word from HQ, but an email went out to the
17 stores noting sign changes for the weekend , ( not going out of
business sign's ) the email was addressed TO: all ( MH_Ltd stores )
I am assuming that means Michael Hill Ltd instead of the usual
Whitehall stores .. shocking to us because we have not received
word yet that it was finial or when the big change would take
place. I suppose we should just be our usual professional self's
and pull our hair out in the restroom as customers grill us <
smile>
Shining like diamonds commented:
Hmmmmm--interesting--That was Monday--but wasn't there a court
hearing on Tuesday?? Or could things be kept that quiet??? Thanks
so much, Rob, for all your hard work! We all needed to vent our
frustration and have a place to find out what was going on. Your
site helped us do just that!
Rob Bates commented:
Shining ... The internal Whitehall email that was sent out Monday
mentioned stores could still be bought.
shining like diamonds commented:
Boston (buisness wire) reported Tuesday, Ausut 12, that all 373
Whitehall store locations will be liquidated. Harvey Yellen,
Chairman of Great American Group was reported as saying, "The
Whitehall liquidation was ordered after exhaustive efforts to sell
the specialty retail chain or obtain fresh equity both proved
unsuccessful." The source of the report was Hudson Capital
Partners, LLC. For the sales associates and managers in the 17
stores that were hoping we'd be bought out, seems like that hope
has now vanished--but we'll always shine like diamonds! Take care
everyone! Hope something even better will come your way soon!
(Could it be possible the reporting was wrong????? still hoping)
IY commented:
Time to go for most of my friends that are left. Good luck
liquidators trying to run several locations. Many competitors are
opening their doors to the people at whitehall. Friends of mine (7)
have taken advantage of them. Like I said previously, don't wait
too long. positions are tough to come by. Good luck to you all. By
the way, the 1st offer from Gordon bros was turned down because it
was felt that the G company pulled out because they had a back door
deal cut with Gordon bros to buy them from them after liquidation
for a much smaller amount.
fla commented:
liquidator wa in my store (gordons bros) yesterday and according to
him its all about how much traffic and how much your location is
selling as to how long you will remain open. When I asked him about
Gitanjali buting he said "not until our contract has been fufilled"
I take it not until the very last store is to be closed. They have
no incentive package put together. Today Gordon bros , great
american and WH have confrence call that he saidshould be about 3
to 4 hrs (at least AT&T stays in buz) and that's when monetary
packages will be put together. Ironically he also said Gordon bros
i salways hiring...HOW COMFORTING! Overall he was very pleasant and
understanding of our situation. He really only cared aout where he
was to put his signs! Incentive package or not ...I am out as soon
as decent offer is made. Thanks again Rob for all of your help.
Choking on Pearls commented:
OK, I was told tonight that the 17 " going concern" stores have
been sold , If this IS true ( nothing official as of yet) those 17,
15 in IL. and 2 in MO, would not be liquidated, but as i said its
not official yet, I will know tuesday night. being in one of those
17 I will let you know whats up. Rob thanks again !!
fj/wh manager commented:
We were told that WH was being liquidated through an email. How
classless. At least FJ had a conference call company wide to
explain the situation. Here's an email - good luck. Ridiculous. I
could tell this place had no class the 1st month I started here.
mvnon commented:
yep the end is near, the liquidators will be in our store
tomm..should know alot more then,.. we have been told..2 to 6
wks...till the doors lock ..
oncehopeful commented:
Hello Rob, once again thanks for all the info! Well I work in a
Whitehall store and the going out of business sale pretty much
starts tomorrow for what we are being told. I was contacted by the
liquadator and he will be in our store this week. Tomorrow the way
people pay is being changed and no more returns, so I suppose it is
official! How horrible sad!
Rob Bates commented:
The court docs have all been posted on the court documents site
(tinyurl.com/5a886y, click "docket"). They basically say what we've
been reporting. Despite all the twists and turns, not much has
changed in the week or so since I put the original post on top:
Michael Hill wants 17 stores, Gitanjali is still talking, and
Gordon Brothers is doing the liquidation (except now it's with
Great American.) I am quite curious about what people are hearing
in the stores. WH has been pretty silent, which is a little odd,
but in character for them. Thanks for all the nice words by the way
... My best to everyone caught up in this craziness.
very diasappointed commented:
I would like to state that there will be life after WH. We all will
learn a valuable lesson after this one... ASK lots of questions
when interviewing with future employers as to avoid such
situations. I know that there are no guarantees but it is important
for us all to look out for ourselves. Remember WH employees... when
one door closes another will open. I have enjoyed working for this
company and am very sad that it has to end as it did... I kept
faith all along but was sorry when things went south. GOOD LUCK TO
ALL!
fla commented:
Rob... Thanky you very much for your time. You helped so may of us.
WH1 commented:
Hey..I just spoke to a friend who was with Bombay. Gordon Bros were
the main liquidators. She said that they had a great
experience...their consultant was great - very understanding, kind,
hard-working; she made a great bonus. She said her consultant
helped a bunch of her staff with their resumes...and wrote really
great letters of reference for them. Hang in there!
2sad commented:
Ditto
OneOfYou commented:
Hey Rob, Just want to say thanks for all the time and effort you
put into keeping us whjis informed.You treated us much better than
our own company and RVP'S, DM's. I'm sure everyone here understands
you have other things you need to tend to. Your support is greatly
appreciated...thanks again.
Rob Bates commented:
Hey everyone ... You should all check out the main jckonline page
for a story from my colleague Anthony Demarco about how the head of
Gitanjali is still interested in buying stores -- although he
hedges quite a bit. (And that thing about other bankruptcies is
pretty scary -- though I don't disagree.) This roller coaster ride
is wearing me out; I can only imagine how you guys feel. What I
keep hearing is this may take a while to work itself out, as
Gitanjali may decide to negotiate with the landlords. Anyway, I
probably won't be posting so much, or following this story as
intently, next week; I have to attend to my other responsibilities
for the magazine. But if I do hear anything concrete, I will post
it here, as soon as I can. Anyway, keep talking and sharing info,
and I'm particularly interested in what you guys hear Monday ...
WH commented:
Anybody have any news about the DMs and the RVPs?
2sad commented:
Yeah I'm in a store. What I meant is that we come in to our same
store - work our shift - get paid. They will send in merch. May
take a week or so....but we'll get a lot (as per my friends who
went through Friedmans deal). I like your attitude glad-I-stayed.
More WH associates should read what you have to say!
glad I stayed commented:
Full time associates will also get chose to stay bonus. Nothing for
parttime as far as I know from Frdm. liquidators. I stayed til the
end with Frdm. Best check I ever had with them. Would I do it
again??? YOU BETCHA!!!!!!!!!
? commented:
re 2sad: r u in a store? 1 element in bridal, empty cases, no
jeweler, hardly biz as usual! not complaining-this was expected but
not biz as usual. ur right-no shame in unemployment-only
unexplained gaps in work history. they need to ship augment mdse
asap!
2sad commented:
It'll be biz as usual on Monday! I agree. If you do not feel you
can hang in there w/the sale...you need to find another job asap!
Our paychecks will be good! Our benefits will continue. Some in
magmt will get a big bonus at the end. I understand that the field
liquidators are very nice, polite, will not beat us up! Also - they
have no reason to lie to us! I'm hanging in...and at the end look
for another job outside retail!!! Unemployment is not frowned upon
anymore!!!
? commented:
this better start monday cause we have no mdse!
glad I stayed commented:
If it's like Frdm. liquidation checks will come from WH funded by
the liquidators you will get your regular pay plus comm. just like
you did before unused vacation is paid in your last paycheck.
fla commented:
Rob, what do youknow about Gitanjali still being interested in 150
stores? Any info would help.
been there commented:
what about paychecks? who will be paying us?
1stgroupcut commented:
Heard from HQ staff that liquidators w/be in office Monday. More
staff to be let go.
fla commented:
I am definitely not a veep but if you think we (as middle mgmt) are
losing sleep, I would imagine going from triple digits to zero must
be tough. I am not coming to their defense but so one ( except for
probably MD) got severence. Those who are outside of fla... lucky (
in an ironic way) even if you are Bill Gates your unemployment
check is $275.00 week max. How are you to swing a mtg,daycare,
food, car,etc.. on that. So. are very slow to hire now . I have
been interviewing for month as soon as I saw the writing on the
wall. Hopefully, liquidators will pay decent until job offer
comes!!!!!!
OneOfYou commented:
Thanks Rob for all the info. Nobody I know ever heard of 2
liquidators handling a situation like this. Sounds like more
hassles. The biggest question for all of us is "Who's Going To Pay
Us?" Since last week was a new pay period we are owed that money.
We worked for Whitehall but it appears they're gone now. Do the
liquidators pay us or are we ripped off? This needs to be addressed
first thing Monday when Chicago Veeps are back from their restful
weekends.
floridajeweler commented:
Termination, then don't just sit there. Go find another job with a
more stable company. Well, unless you really want to just relax and
collect the unemployment. If you do... well, think about what
future employers will think about that.
FmrFrdmEmp commented:
@Termination Date, Check the laws for you state in regards to
getting paid your vacation days. In Tennessee, where I live,
Friedmans had to pay our vacation time upon termination. Laws do
vary by state on that though...you may want to take some time off
drinking margaritas by the river:) Have faith.
Termination Date commented:
I just can not stand the fact that I'm stuck with having to work
until a pre-determined termination date so that I can collect
unemployment. Nervous that my vacation days will not get paid out
if WH cash is strapped or held up.
crscnt2frdmn2wh commented:
Thanks Rob for all your input,you are the only source for a lot of
us.
peace out commented:
cranky dave- the sale of the firedmans stores to whitehall were in
the court documents 2 weeks before the liquidation sales. we knew
we would be bought, and we never went into liquidation. the 78
stores did not have any part of the liquidation. it was finalized
one week after april 11th. the fact is, it is more beneficial to
all the parties who are owed money for a complete liquidation of wh
assets. there will be 17 stores sold and perhaps a couple of others
here and there. so unless you are one of the 17, bend over and kiss
your a__ goodbye!
been there commented:
cudos rob! you have been a font of info and professionalism. good
luck everyone-make some bucks @your closings! trust me there is
life after retail where full time is 40 hrs not 50 plus and
benefits are better! take care of yourselves and your families!
Best Wishes commented:
I want to wish all of you the best through the process. I also
stayed on through the Friedman's liquidation at a DM level and I
can honestly say that the liquidation group maintained a very high
level of professionalism. The stores closed in stages based on sell
through and there was continuous merchandise coming in to help
supplement sales for the teams in place. The people that they had
in the field understood how tough the situation was for the
employees and tried to make it as painless as possible for the
teams. It is never an easy process but Great American did make it
as simple and lucrative for the managers and associates in place as
the courts would allow. Use the time you have to secure your future
(they were understanding of this) and then take a little time for
your families. It will help your state of mind:). Good luck and God
bless!
WH commented:
Thanks Rob - you've been great!
Rob Bates commented:
Hey guys ... Quick update: so I guess a deal was struck and it
looks things will be run by BOTH Gordon Brothers and Great
American. As for "going forward" stores ... the Michael Hill stores
(the 17) will probably be part of any package ... and, as far as
any other possible purchases, what I'm hearing is that if there are
any other acquisitions, it may take a while to work them out. So
that's that. I don't have a lot of Internet access this weekend, so
I won't be around so much, but wanted to give you that quick update
... take care, Rob.
CrankyDave commented:
@ cut to the chase... Again, sorry, but thank you for the kind
words.
At least an order we're not aware of anyway when it comes to
funding. I would personally be surprised if "arrangements" were not
made for this.
If it's any consolation, know that you're not alone. All one can
really do is put their best foot forward despite the trepidation,
uncertainty and despite the "hole" you may feel inside.
cut to the chase commented:
no it wasn't-i am so over wh! however, your common sense is
comforting-like you said it isn't official yet. the payroll
$,though, was good thru friday 8/8! maybe the judge ordered more
funding-however no such order has been filed yet. hmmmm!
CrankyDave commented:
@ cut to the chase... In the absence of any official announcement,
at this point, the only assumption/speculation that can really be
made is the that it will be the same people that were running it on
Friday.
Sorry, I'm sure that's not the answer you were looking for.
cut to the chase commented:
simple quest: who is running the show on monday?
been there commented:
surely rob would have heard something official then-we should all
send rob on a cruise after this, for keeping us in the loop. thanks
rob!
former mgr commented:
if its over why no announcement anywhere and why hasn't the judge
entered the order and when did it become "official"?
CrankyDave commented:
@ fla... I think you're jumping the gun with definitively stating
that no stores will be sold. At the very least, there is the "going
concern" in regards to the stores that Michael Hill is said to be
interested in which has still not been decided to the best of my
knowledge.
Additionally, this does not automatically preclude stores from
being sold after the court renders its decision. Remember that the
Friedmans liquidation began before the sale of the 78 stores to
Whitehall.
fla commented:
yes, been there , it is offical. Liquidator won, I will have to
stay true to my information source so I won't say who it will be.
You can chose to believe me or not I just don't want to see any
more people turned inside out from any false hopes... it's done.
Take Care and Good luck!
? commented:
Rob-any news at ALL? Why hasn't there been any announcement re: 8/8
hearing?
been there commented:
re:florida---is it official-court hearing from yesterday over?
order signed? or spec? who is in charge? wh or liq and which liq
won?
fla commented:
The exhaustion that I am refering to is emotional. cranky dave,
there will be no store sold. They HAVE signed to liquidate all
locations. There is no more speculation; except how the liquidators
will outline our (wh emps)pay structure. I wish you all luck in the
future and hope that none of us have to go throughthis ever agiain.
CrankyDave commented:
@ ?... The stock balance is "required" and gives you an indication
of the amount of memo goods in the store. Once the court sorts
things out, stores that remain open can probably expect an influx
of items due to the liquidators. Also, any stores that *may* end up
getting purchased can expect to see a dramatic change.
CrankyDave commented:
@ florida jeweler... I think you hit the nail on the head. All the
uncertainty is what has folks on pins and needles. Each day that
goes by with little clarity as to what's going to happen the next
is a difficult thing to try and deal with.
As far as store closings, without a break in the economy (I hate to
point to that) and a break in the precious metals market, it's
going to continue to be a tough row to hoe. I've personally seen a
dramatic swing with silver items being sold at a 15-1 ratio to gold
whereas that ratio was exactly opposite a little more than a year
ago.
WH commented:
Rob...what's the news????
? commented:
is anyone hearing from their dm's? They seem to have dropped off
the radar screen! When this new stock balance goes out mon there
will be nothing left unless they send some augmented merchandise.
not much point in opening otherwise!!!
floridajeweler commented:
I don't think it's about being exhausted. I'm just very eager to
hear what's going on. I don't work for Whitehall, as I mentioned
before, but I know people being affected. The mall I currently work
in has seen Friedmans go, and now another jeweler store is closing,
add to that the eventual closing of Whitehall, and there's another
one that has what's possibly the worst location known to man that
will be closed (predictably) by year end. What was only two years
ago 10 jewelry stores in my mall, by year end will be down to 5.
fla commented:
no one seems to commenting today...I guess we are all just
exhausted
? commented:
i can't take the pressure-when will liquidators take over?
been there commented:
are they still in court? has anyone heard anything?
concerned commented:
I am glad some people are getting recognized for being good
employees, bosses , etc.... The DM for Northern Ill / Wi is a
wonderful guy. Please please please, be very caerful if you go work
for that other Chicago chain. Even though Whitehall was screwed up,
the other place has no scruples! You can do better than them. Good
luck and thanks for everything!
WH commented:
Now THAT must be some borrrrrrrrrrrrrrrrring phone call!!!!
Anything new? Will they call it a day and go again on Monday? Or go
until it is all resolved???
Rob Bates commented:
Was never at courthouse, you can listen in telephonically ...
WH commented:
Rob...are you still at the courthouse?
Yes We Can commented:
Please advise of new thread but this works...
Rob Bates commented:
Peace out, actually I was thinking of starting a new thread if
people planned on chatting through the weekend ... Do people want
that? As far as I know, there is no way reverse the order. And "Yes
We Can," I have to say, I have gotten a real kick out of your
comments. You have a great attitude. Keep the faith, my friend.
peace out commented:
rob- is there any way to reverse the order of these comments? the
latest should be at the top!
peace out commented:
dont know this CA fellow, laws of physics say that what goes around
comes around. i love my RM. i feel sorry for the people who have to
work for someone they loathe, but if i was to predict the future
(maybe this will be my next endeavor) i would say that you all will
not have to deal with this type of individual for much longer. hey-
you now whats up, plan for the worst and youll be surprised if
something good happens!
Yes We Can commented:
Rob Bates and JCK rock.... Rock On Cool Dude!!!!
CADreamin' commented:
You are 100% right about that!!!! He should put on his apron and
take his broom and sweep that TJ store clean!
Rob Bates commented:
Please, guys ... don't bad-mouth specific people ... it is really
not appropriate ...
2sad commented:
You go SW guy! You nailed it/him on the head about CA VP. Didn't
know he had another gig south of the border. Is this true????
Frankly, the one good thing that will come out of this - hopefully
- is that Mr. Ca VP will be ding-dong-the-witch-is-dead (witch
being masculine in this case!) Don't think his bs will play with
either liquidator!!! And yes, talk about a waste of payroll $$$!!!!
My friends who work under him are all hoping he'll be gone by
Monday!
Southwest guy commented:
CA VP your control issues are showing! You obviously assume
everyone on here is a WH employee. I, for one, am not. You can't
tell me to do anything. As far as being grateful for having a job,
I would think that is a statement for you. Qustion is, and has
always been, why are you still being paid?? If it helps your
Napoleonic complex, your infamous legend extends across the jewelry
industry, not just within WH. I'm in CA today, are you? or have you
already headed to Mexico to your grocery store business that you
attend to on the weekends. I will give you credit, smart move to
have another business that you don't have to worry about what
happens to WH or its people. Too bad the people under you weren't
advised to do the same.
WH commented:
Thx Rob-great work.
Rob Bates commented:
OK ... I've been listening to this court hearing all day .. and
they are STILL talking about who the liquidator will be. Eesh! They
mentioned this morning they would get to the going concern bids,
but so far, they haven't. It's quite dull and seems to be going in
circles. So yes, I agree with my friend Peaceout, this could really
drag on, and I don't know if they will go on through the night or
adjourn to Monday. And so far, sorry, no news. Anyway, I only plan
to subject myself to a half hour more of this, and then I have to
get to other things. For those who care ...I really don't know the
law here -- but it seems that Gordon Brothers has the better case.
I mean, the GB guy on the stand was practically sputtering -- he
was so mad about the whole thing. But the Great American deal has
the support of everyone, including the creditors, and the guy from
Great American was certainly a good witness, so who knows? The WH
lawyers seem like people who just push everything to the limit; it
is what they did on the consignment. Anyway, as I said, I am going
to knock off in a bit, but hopefully if news breaks I will hear
about it, and when I do, I will announce it to you all. Or
Whitehall could actually announce something themselves, which would
certainly be nice. Finally, please keep your comments on an
elevated plane, as you have for the most part. I will check in if I
hear anything, but for now, sorry, it's more waiting. Hang in
there, everyone ...
peace out commented:
has anyone considered the recall isnt due until monday? they would
not put us in liquidation until that merchandise is at the support
office. i suspect this thing will drag on thru the weekend.
wh commented:
Rob...Its 5 pm est - will the court adjourn until Mon? Or do they
keep on going until this is resolved???
2sad commented:
Yippeeeeee. Couldn't happen to a better group of rats! Sayonara!!!
We should all hang in during the liquidation. Do a great job...make
some great $$$$ and then move on!
Yes We Can commented:
Another good point for all of us to remember is that the Company
falls first from the top on Day 1. See Ya... Rock On People!!!!
2sad commented:
Right on Yes We Can! I've heard that the "real" CA VP is one
treacherous dog who helped bury this company!!! One serious viper
creep. Hope they toss his butt out asap!!!
lol commented:
re ca vp...must have forgotten your meds again!
2sad commented:
Hey CA VP, who are all the people that are 'lying'??? And who says
WE aren't grateful to have jobs???
worried1 commented:
What would you be considering a lie? I would say there are people
on here worried about their lively hood!!!
Yes We Can commented:
The problem is that anyone can enter any name and make any comment.
I doubt seriously that you are a VP of anything and I suspect that
you wish to yield some negative influences here. I think we all
need to see this thing through and make our decisions carefully. I
for one don't want to walk away with nothing and I know that all
the Friedman's people did well in an off season. December
liquidation is going to yield some fat pay checks regardless of who
gets the thing.
CA. VP commented:
All you people need to stop lying and get back to work. You should
be grateful that you still have a job!
Rob Bates commented:
Hey guys -- I posted something on my "Diamond Shavings," but the
upshot is: No news -- at least, that I've heard. If I do hear
something, I will get it here as soon as possible, I promise.
(Regarding Friedman's: If you go to the court docket, you can see
there was a filing about a few days ago.)
fred commented:
rumor has it that Friedmans is complaining they were never paid for
the 78 stores. Is this true? If so, how could this effect the
outcome of things.
been there commented:
any news on who won or what is going on yet?
WH commented:
Rob: any news???
2sad commented:
worried1...they are all in court now someplace in the East where it
is now 1:30pm. The worst has already happened. Now you have to
decide what YOU want to do! WH as we knew it is over! Door has
slammed shut....and a new one is opening. I bet it is better! Just
figure you are in a lifeboat rowing away from the sinking
Titanic!!!! You've survived!!!
worried1 commented:
Anyone heard any info about what is going on yet? Any more news of
more stores being purchased?
whitehall hubby commented:
Scroll up. You will have to cut and paste the tiny url links to get
them to work. It's all there.
been there commented:
see earlier blog to find the court docket website it has all
petiitions,pleadings and orders from judge gross.
fla commented:
hubby, where are you getting you info on court date etc...
whitehall hubby commented:
I guess today at 10AM the judge starts.
1stgroupcut commented:
Yes, indeed there is life after Whji! After one month of
unemployment, a new job w/better pay and unbelievable benefits.
Better jobs are out there! Good luck to my fellow Whji HQ friends!
glad I stayed commented:
Unused vacation is paid in your last paycheck, frdm employees did
not get a severance package. I'm guessing WH will be the same. And
after many yrs. w/FRDM I get to spend this Christmas Eve with my
FAMILY. Look at the brightside there is life after Whitehall!!!!!
confused worker commented:
I JUST WANT TO KNOW WHAT WILL HAPPEN TO PEOPLES VACATION PAY WHEN
ALL OF THIS IS SAID AND DO ALL IS THERE ANY SEVERANCE PAY? LET ME
GUESS PEOPLE WHO HAVE BEEN WITH WHITEHALL FOR MANY YEAR HAVE NO LEG
TO STAND ON RIGHT?
glad I stayed commented:
I'm glad I stayed with the liquidators of FRDM. They were really a
great bunch no quota's and guaranteed comm. Told up front only the
productive stores would stay til the end. (set by the Judge) June
30th all stores would be closed by then. We did not get a severance
package, we did receive a chose to stay bonus. Also received a very
nice shrinkage bonus. no pressure to sell lol But sell we did.
Liquidators did all the hard work we just had to show up for work
and sell our hearts out. We did great we were one of the last
stores Closed. I would do it again in a heartbeat. Now I'm taking a
long paid vacation til after Christmas. (unemployment) Do your best
stay professional the best is yet to come.
fla commented:
jewelry mall boy... there is nothing "fishy" about what the RVP's
told DM's to do. My DM turned the offer down or so they said.. I
just hope my DM doesn't have a change of heart... my store is
probably the most appealing (sales wise) and I have children to
feed. I will say that after today I hate Wh the most... doing that
million piece stock recall ... no benifit to me , my store, or the
co. just a lot of aggrevation and them giving us the screw one more
time.
choking on pearls commented:
WH: i agree on all points
2 sad commented:
Let's hope that the judge rules 2-morrow and we all know who we
will be dealing with!!! Think positive! Change is very very hard.
But we have no choice. Get your resume ready. Only you/me will know
if we should: 1. stay through Xmas 2. Leave as soon as we get a new
job We are professionals and we should all be able to get a good
job!!!! It can't get worse than this!!! Look what we have had to
deal with over these past 3 years!!!! So many CEOs...so many
mistakes!!!! Tell me why WH should have survived??? We had no real
reason to be! Zales and Kays's have the brand recognition. WH never
did! Especially when Hugh died and the parade of goof-balls took
control!!!! Trying to be high end!!! What a joke!!! Who was that
girl from Donna Karen who was VP Merch??? Matthew P had no idea
what to do when Hugh died. Poor guy (Fredo)!!!! And these guys from
Fred Meyer!!!! Hey - we were dead before any of us knew it.
Choking on Pearls commented:
Mall Jewelry Boy: I agree with you, Rob is doing a wonderful job, I
have gotten more info from this site than from any other sorce.
THANKS ROB! you are my new hero
WH commented:
I think that these are the stores that the Aussi Co Michael Hill
want to buy. My understanding is that if they are sold- Hill will
take ownership...maybe change the name....sell off the WH merch and
then add their own. One of the Friedmans-who-became-WH should be
able to illuminate. Think the employees in good standing will stay
employed. But that's it. The rest of us are on borrowed time...till
the end of the year. I have a hunch that the liquidators wil be
much better to deal with than the current WH losers.
Choking on Pearls commented:
SORRY continued due to computer error : Can not " sue" your
employer , you can however file charges of wrongful termation, Is
what you heard the truth? or was this person kidding? Its getting
hard to keep up with truth VS rumors. I have seen the list of the
17 stors in IL and MO that were going up for sale? can someone
please tell me what they will be selling? Whitehall does not own
the property nor the merchandise in the cases, so whats to sell?
our customers? who now are all shopping across the hall due to the
chapter 11 news? ummmmmm can someone enlighten me on the selling of
the 17 stores?
Choking on Pearls commented:
TO:2sad , Yes you can sue someone after,or during a bankruptcy as
long as you are not a creditor,however you can not "
Mall Jewelry Boy commented:
I'm sure the liquidators, once in charge, will keep tabs on store
payroll. They're not going to have regional/district manager's
salary leaching money from the stores. I'd imagine even if a DM
demotes himself/herself into one of his store's management
positions (which sounds SO fishy!) that she's/he's going to be
forced to take a pay cut. I'd reccomend everyone take all the
comments with a grain of salt. Rob's doing an excellent job here.
At least this isn't as hush-hush as the Friedman's debacle.
OneOfYou commented:
My understanding is WH wants Great American because some exec has
ties with them and they will keep the head honchos and some rvps
and dms on longer than another liquidator. I guess they would
rather keep paying themselves than try to make any good with their
creditors. Hopefully the judge will be wise to their blatant
disregard of the law. How many underhanded games are they going to
be allowed to play and how long are they going to keep getting all
their dollars while everyone else struggles? If Chicago is any
indication, someone else will be running the show soon since no one
will be left in Chicago. Hopefully, they could baby sit these guys
until they're out on their ear where they belong. This is getting
way out of hand..enough games already. just pay your creditors and
take the Fred Meyer posse to another company to destroy.
WH commented:
Not to mention that the RVP rate of pay eats up any pr budget. My
friend from Friedmans told me that they were on a short leash w/pr.
So if the RVPs boot out SM...surely they would have to go down to a
much lower pay rate. Can't imagine all the long hours and a bonus
of a few thou would be worth it to them. Anyone else on this
wrinkle. I'm from an area way away from you SW guy but I KNOW who
you are talking about!!!!
2sad commented:
Hey SW Boy.....you are so right about this guy!!! HE is the
problem!!!! Where did you hear that the RVPs can boot SMs out???
That would surely constitute unwrongful termination and could open
up lawsuits (can you sue after bankruptcy???) Do you have any more
info on this???? Usually liquidators want the old management out
out out!!!
Yes We Can commented:
Are there any other sources for communication out there? Would
someone please direct me with a link?
AChick commented:
More ppl are being cut at the Corp Office...when will they be
letting the RM'S &
Mr.notajewleranymore commented:
Hey Rob and WH, as you may remember, Whitehall won the Friedman's
auction. The auction was for the whole chain. The Board of
directors chose not to accept the bid as it was and instead went
with Great American et al. The Lucky 78 that were bought were after
the auction. It looks like this may be the same kind of situation
here. The easiest way for me to equate it is an ebay reference. If
I sell something, but I want to definitely make a certain dollar
amount, I put a reserve on it. That way I know I make the $ I want.
There may be some similar situation here. Personally speaking, the
liquidation through Friedman's was, for me, a relatively smooth
process. There was miscommunication at times, but at no point was
my liquidator a jerk. There is a hierarchy to this liquidation
trio. Great American is the administration and operations wing,
Silverman supplies supplemental/ augmented goods to help keep the
showcases stocked, and Hudson capital is the guys " in the field."
Bottom line, if Whitehall wants Great American instead of Gordon
Brothers, it is their prerogative to do so.
Rob Bates commented:
Southwest guy ... nothing personal, but before this goes any
further, please remember that I work for a company too, and this
blog is governed by Reed Elsevier's "terms of use," which can be
seen at the bottom of this page. Those terms forbid, among other
things, defamatory content (which, I will add, is not protected by
the First Amendment.) So if you want to talk about specific people,
go to blogger.com or something and set up your own forum to do
that. But with all due respect, we can't have people doing that
here. Sorry. I don't like to play Big Brother, but I would also
like to this forum to continue. If you want to discuss this
further, my email is rbates@reedbusiness.com ...
Southwest guy commented:
[A] RVP ... had a conference call this morning with his district
managers and told them to pick the store they would want to have
and go in and either step-down the manager or terminate them and
take over the store. People like [him] being around so long are a
big part of why Whitehall is in the mess it is in! [He] has cost
the company more quality people throughout the years. [Message
edited by moderator.]
Rob Bates commented:
WH -- I was afraid someone was going to ask me that ... Apparently,
Whitehall can ignore the auction results in the event of a "going
concern bid" or a "fee bid." Whitehall says Great American et al
submitted a "fee bid"; Gordon Brothers calls it an "equity bid,"
which would disqualify it. So, if this isn't worked out by Friday,
the judge will have to decide whether the liquidation chores are
handed to the GA-consortium or Gordon Brothers. Don't ask me to
explain the difference between a "fee bid" and an "equity bid"; I
don't know, and I'm not sure it's worth my while to find out. But
there you have it. There might be other subtleties here that I'm
missing, but that is my (limited) understanding of it. Perhaps some
bright person out there can bring more clarity to this subject.
Also, I have a new Whitehall article up on the main site -- and by
the way, Floridajeweler, well said ...
WH commented:
PS Rob- Isn't GB planning on running going out of business sale? I
am perplexed by this latest turn. What do you think???
WH commented:
Hey Rob- I'm confused! Gordon Bros "wins" the bid in auction (that
went to 4 am) and now another liquidator is able to offer another
type of deal to WH??? What is the point of winning the auction???
Can you explain this to us????
whitehall hubby commented:
Sorry that I love and support my wife WeBe. Job? Is that one of
those 7Am to 3Pm things? I haven't seen a 40 hour work week in
years.
floridajeweler commented:
we be diamonds, keep it business. Personal attacks really aren't
welcome.
We Be Diamonds Store commented:
Hey Whitehall Hubby, Maybe you are going to have to get a job and
let the wife stay home and blog for a while.
whitehall hubby commented:
Wife is saying they are sending back 12 faxed pages of stuff,
almost all of their diamonds.
Mall Jewelry Boy commented:
That's a pretty short list of "potential going concern" stores, BUT
at least there is a list and some possibilities for a few
employees, right?
Rob Bates commented:
Didn't notice that at all, so thank you... That list can be seen on
the last page here: tinyurl.com/6s7lkk. They are all in Illinois,
with two in Missouri. Those seem to be the Michael Hill stores; I
guess Gitanjali is still a question mark.
.. commented:
Rob: if you look at Exhibit A to that filing on the very last page
it shows the 17 stores that are "Potential Going-Concern Sale
Stores"
Rob Bates commented:
OK ... This won't come as a surprise to anyone here, but last night
Whitehall filed a motion to enlist Great American, along with
Silverman and Hudson, to conduct store closing sales ... Here is
the filing: tinyurl.com/6zjkqd (PDF) ... There was no mention of
stores being sold (which would preserve jobs), but that might still
happen, as it did in Friedman's case, which involved the same three
companies. If I can try to find some good news in all this, in
addition to the possible store sales, it's that the Friedmans'
liquidation was considered an extremely successful one as far as
sales. I'd be interested if any ex-Friedman's people can speak
about experiences. I should note that there is one other twist and
turn here: Gordon Brothers had the high bid at the last week's
auction and has filed an objection asking the court to block the
Great American deal. So it seems like there will be gamesmanship to
the end. What a strange case. Again, my best to everyone here ...
I'll probably write something up for the main site, but I wanted
you guys to know first.
praying for all commented:
You guys need to focus on what you can change personally and forget
about everything beyond your control. If you decide to stay do the
best you can or start building bridges to your future.
been there commented:
once the liquidation starts the dm's and up are out! They are no
longer your supervisor because he liquidators own the stores. those
who stay will never be branded a failure, how inane! The company
failed and those who stay will probably be staying for bonus,
insurance and a paycheck to feed their famiy until they find
another job!
2sad commented:
Hey One of You...what makes you think the DMs and VPs are going to
be around - especially as they will have no more power!??? I
understand that they usually get the ax? Anybody know for sure
what's going to become of them???
OneOfYou commented:
Question for Rob: When you said earlier it won't make a difference
which liquidator gets WH, did you mean whoever gets us will
liquidate the entire company? I agree with Connie Connor. Chicago
already knows this is a sinking ship but the stores need to wake
up. Only a handful will be saved if any. The veeps had no loyalty
to anyone. Why kill yourselves over the holidays to line the
pockets of liquidators and help the RM's DVP's get huge bonuses
while you get crumbs? Go find a company that gives you the respect
you deserve.
Connie Conner commented:
Cont...."failure" brand attached to your resume for sticking
around. There are plenty of stores looking for you. Open your eyes.
You need to take care of you now!
Connie Conner commented:
Hey WHJ Employees. Give it up. Your ship is sinking. You are
jewelry professionals that need to take a serious look at some of
the other companies. Forget your loyalties and move on. Get out
while you can before you get the "
pawnmarrocks commented:
the bottom line is the employees. the everyday hard working men and
women who face their customers time and time again trying to offer
some kind of sense to all of this. whj employees hold your head up
you have done what you were told to do. it's sad no matter how it
comes out, maybe we are pointing our fingers at the wrong people,
let's try the gov't.
fj/wh manager commented:
Just to vent a little, when we were bought by WH our DM basically
came in and let us know that we had been working for a 3rd rate co.
and they didn't think very much of FJ or it's training or it
jewelry or anything else. Basically it was "We're your saviors and
you guys know nothing". I couldn't break it to them that WH was 10
years behind on the training, merchandising, procedures, and
communication. Working for FJ was way more professional than WH.
And I also hate to break it to them, the WH jewelry in not any
better than what I had w/ FJ. I was hoping another co. would come
and do the same to them, but no one will probably be around above
store level if there is a buy. FJ also trained assoc. how to sell
merchandise - not lowest sales price. Good luck to everyone out
there - deja vu all over again.
fj/wh manager commented:
For the person wondering when the liquidation will start, at
Friedman's they had a conference call @ 5pm the day the sale was
approved and said we start liquidation now and Great American was
taking over from this point forward. They said a liquidation agent
would be in touch. At 6pm we got on another call for the 78 stores
for them to tell us we got bought and it would finalize after the
inventory and to hang tight.
jobavailable commented:
I have info for some of you or at least you can pass on info. A few
mgr positions are open at Fred Meyer in Ohio. I was approached by a
district mgr there. Although I am not leaving my company, someone
might like the opportunity they have. Sounded decent, and they are
fairly solid company. The gentlemans name was John, he was a
district mgr and he had several stores he needed to fill.
curious commented:
after friday meeting-winner is in charge and whitehall supervisors
and up have no more authority right?
southeast commented:
rob, by any chance do you know... after the court date, how long
does it usually take for buyouts (if any) occur? You must really
feel like the "whitehall guru" by now.
former nc mgr commented:
no! But since the company is liquidating I assume that he will be
moving on as well at some point. I just wanted to use this forum to
wish him well! I left in Dec. but have been keeping up w/
developments.
southeast commented:
does this mean Tim Murray has exited?
former nc mgr commented:
To Tim Murray-thank you for being the best supervisor I ever had!
You always treated me with the utmost respect and professionalism,
leading by example, supporting staff and making all feel like an
integral part of the solution not the problem. (miss the dry humor)
I wish you all the best...take some time to enjoy that big screen!
denise from asheboro
fla commented:
Rob and all the rest of us... a hunch, knowledgeble inof, or a
lead... nothing matters in the end because WE have no control over
it. The only purpose all of these comments have made is for us
whij's to vent. WHIJ doesn't give a rats ass. so I am signing off
and going to try and get a night of sleep. Bye Whitehall!!!!!!
Rob Bates commented:
Someone pretty knowledgeable just told me it will make "no
difference at all" which liquidator is chosen, as far as whether
stores are sold or closed. So now we have three different opinions
on that topic -- but I'm pretty inclined to believe the person I
just talked to and that it won't much matter ...
CrankyDave commented:
@ whitehall hubby ... I understand the trepidation. The best think
IMO opinion is for the both of you to try and relax as best you can
given the situation. It's almost a certainty that stores will
remain open as a means of selling the merchandise. Which ones and
how many is a question that's yet to be answered. I wish your
family the best of luck.
As far as the sale of stores is concerned, much has to do with the
potential return for the creditors rather than the particular
liquidator.
gbinfo commented:
The above scenerio is the opposite. Gordon Brother's is a
liquidator and that is what they do along with valuing inventories
for outside agencies and consulting. If GB gets the nod it is more
likely that there will be some immediate store closings followed by
a total liquidation of WH merchandise and other GB merchandise that
they bring into the stores. The likelyhood that they sell
individual or blocks of stores are not good. Liquidation is what
they do. Again this smacks of glad handing by WH to wiggle out of
an agreement that is in the best interest of the creditors and
vendors.
WH1 commented:
Thanks for the info Rob. Seems like anything may happen! Either way
it's "see ya WH"!!! Who's Next????
Rob Bates commented:
WH1, again, that is what the above poster says, based on what
someone told him. I have no idea if that's true ...
WH1 commented:
So if Gordon Bros gets it - the stores that the Aussis and Indians
want will be sold to them (and THEY run them w/or w/o a name change
& with the current WH merch and some of their own merch)and the
rest of us get liquidated... or if Great American gets it - they
will just liquidate the whole chain - the good-the-bad-whatever???
And nothing is sold to the Aussis and Indians. Is this right???
Rob Bates commented:
WH1 ... Haven't heard that, and there really hasn't been much
coming over the transom for now other than what I'm hearing from
you guys (remember, tips can be sent to rbates@reedbusiness.com)..
According to Gordon Brothers' petition, Whitehall wants to go with
Great American (the other names weren't mentioned); GB has filed an
objection to that. I think Great American was thought to have done
a pretty good job with the Friedman's liquidation, and their
involvement didn't preclude those 78 stores being sold, so I'd say
the jury is out. In any case, if you go to the "docket" at the
Whitehall bankruptcy page (tinyurl.com/5a886y), GB's petition is
#503.
Floridagem commented:
the Friedmans locations are still open operating under WH Jewelers,
some with the Friedmans sign still on the front. They kept their
merchandise and got sent some of the WH stuff too. The associates
became WH employees
WH1 commented:
Rob: How do you interpret the above comment from DH? Does this seem
a likely scenario? Do you have an opinion as what is a better case
scenario - Gordon Bros or the other guys?
DH commented:
Just spoke to a source at the Gordon Bros the "jewelry merchandise"
company who is in the know... Gordon Bros the "liquidation
company"(2 separate entities)...Although Gordon Bros. had the
highest bid at the auction, apparently the "stalking horse group"
consisting of Great American,Hudson, and Silverman is trying to lay
claim to the whole shooting match...The way I understand it, the
Whitehall creditors will decide if they will accept the bid from
Gordon or will they recoup more of the money owed them by doing the
Great American deal...Heres the way it looks, if Gordon gets the
deal some stores will close, some stores will be sold...If Great
American gets the deal it is going to be a straight out
liquidation...Keep in mind the judge has to give his stamp of
approval on either outcome...Best of Luck
2sad commented:
What happened to the Friedmans stores that WH bought? Did they
liquidate? Or did WH ship in WH merch to them? Did the Friedmans
associates become WH?
Mall Jewelry Boy commented:
Usually the sale of a bankrupt / liquidating store's location to
another company includes inventory, so I would think there is a
good chance there will be at the very least a clearance sale,
especially if there is a disparity between the Whitehall
merchandise and the buyer's merchandise (for example, if a guild
store wanted a Whitehall location). If the new company does NOT
include inventory, and just buys the lease (and fixtures?)...I'm
not sure, but wouldn't Whitehall have to ship out all the product
in the store and the buyer ship in all new product? I'm sure they
can just buy the lease too, and remodel/refurnish the store and
fill it with whatever they want. I have no idea what happens to the
employees in that case...maybe train at another of the buyer's
locations?
2sad commented:
Thx yes we can. I like your attitude! I agree, go for the bucks and
then take a little r&r with unemployment. Take time to find a
good job etc.
Yes We Can commented:
It is naive to assume that stores will close prior to the Dec.
selling season. It sounds like an opportunity to bank some fat
money then draw the unemployment while regrouping next year.
Inventory is never in shortage during liquidation.
2sad commented:
No, I think the stores will be liquidated w/a sale and not just
closed.The liquidation sale will go on for at least 3
months...maybe longer, I guess. There is no point in just closing!
Not sure what happens if your store is purchased by the Aussis or
the Indians. Does anyone know what happens if this is the case?(A
sale to one of these companies)
whitehall hubby commented:
The waiting is what is making my wife go nuts. Could the stores
close after the 8th?
peace out commented:
my friend's sotre liquidated with great american and got 3500k in
bonuses and incentives. her staff got 1.5% commission on everything
they sold, but i understand this was determined by friedmans and
not by the liquidation company.
whitehall hubby commented:
@yes we can. Fat incentive? Do you mean separation pay?
Yes We Can commented:
Great American Hudson Capital and Silverman's liquidated
Friedman's. All the Freidman's staff that I know were compensated
quite nicely with fat incentive bonuses. Rock On Whitehall!! Good
things to come....
Mall Jewelry Boy commented:
Great American was one of the three liquidators (along with
Silverman and...another one I am too lazy to look up) that
liquidated Friedman's/Crescent.
WH commented:
To stay or not to stay....that is the question!
WH1 commented:
Hey Rob - anything more on the Whitehall plan to use another
liquidation company? (Who is Great American???)Why would they do
this? This stuff is confusing. Glad you are here to interpret all
this crap!
2sad commented:
Anyone....will the remaining DMs and RVPs get pink slips? I
understand that most liquidators don't want these types around to
run interference with their BS and old and scumbag ways! Hope
so....I'm tired of them - acting like its biz as usual!! Yeah -
right!! What's going to happen with the JSPs?
IY commented:
Hey bench jeweler, I understand the way you are thinking. But, I am
speaking in reality for those that are being spun and have no clue
on whats going on. All of my employees are very happy, SECURE, and
motivated daily. For you to think we talk this way outside of this
forum is a bit crazy. But again, I understand where you are coming
from. That girl from the G company has no idea where or what that
company is planning. They are out to make a buck with or without
her. Everything is always rosy when there isn't something like this
going on. So,if I offended anyone by telling you what probably will
happen, i apologize for destroying your hopes. But at least you can
get a move on.
fla commented:
The commest abopve is for Rob!!!!!!!!!
fla commented:
thanks for your comment back to me. NO the co. is not keeping any
of us informed even the ones who were "well connected". Most info
has come out of your website. Even my rm didn't know of this site.
Pretty scary< I know. Please if you can keep up with us out here
and keeping us informed. But don't worry I applied to labor pool
yesterday...LOL
Rob Bates commented:
Hey everyone ... not sure how much this means in the great scheme
of things, but Gordon Brothers, the high bidder in last week's
auction, just filed some court papers objecting to a proposed plan
by Whitehall to enlist Great American (another liquidator) instead
of Gordon Brothers ... Not sure how much that matters to the people
here, and still not hearing anything solid regarding possible
sales, other than what the (former) CEO said in his email ...
peace out commented:
heard the most of the friedmans sotres are getting picked up by a
company that starts with an "h". friedmans managers, just reward
could possibly await. keep prayin.
frdm/wh commented:
We are all in Gods hands. I have to believe when one door closes
another one opens. We will be alright. as for the ones who had a
hand in our downfall....they will get theirs....whatever you do in
life - good, bad, or ugly....comes back around to you. This is
sooooooooooo sad. I grieved with and for the Friedman's associates
and here we are again, barely got a deep breath and it's time for
more grieving. The hardest part for me is working so hard for so
many years to build a good business and take care of our customers
(and there is no way to explain this mess to the customer) I feel
like I have let my customers and my associates down. Although I
know I had nothing to do with it, it still hurts. Thanks to
everyone. It's been really great working with all of you. Thanks to
Rob for keeping us informed, you care more than our so called
Company does. WE WILL SURVIVE!
too good to last commented:
I am so happy for the wretched DMS and Managers who treated their
employees with disrespect. They personally owned the company at the
expence of the low paid employees. If you did not make your goal
write ups were in order. Bye I am out of here and good luck to
those who are all going to be searching for new jobs
Choking on pearls commented:
1stgroupcut, Thanks, Nice Meeting you also ! Yes our store is nice
and our staff is great, We care a great deal about the store and
our customers, and all are more than upset by the news, Its a sad,
sad thing when we build our life around a business, and in one fail
swoop....pooofff ( thats french for oopps) its gone. Now its just a
waiting game to see how long we have, it was a hard evening there,
many many calls and stop ins from coustomers wanting more info that
we can give.
OneOfYou commented:
Hey fellow Whji's. I agree, this all stinks. Certain execs
profitted alot from this disaster. They should get what they
deserve. And as for Ms. Gitanjahgirl, take it from me. Your
wonderful company is not as innocent in all this as they seem.
(Believe me, I am in the know). The games they played with us
they'll play with you if it'll make them a buck. So stop your
gloating! Rob, you were very informative when none of us had any
information. Thanks for the info. Everyone is on pins and needles
waiting for the court decision Friday. It will be good when this is
all over. Everyone in the stores.... hang in there. Some of you
will be affected soon. Only the strong will survive out there.
Monday we should have more info. Taje care guys and be strong.
NS commented:
Ha,ha.
Bench Jeweler commented:
You are right about Gitanjaligirl going a little off subject,I
rather have a salesperson like her working in my store than IY,hang
em,sally or anyone else who want to be negitive to one of us.With
comments like that,I wonder how you treat your customers!
IY commented:
That chick from Gitanji, are you nuts? #1, all the cute little
stores are going to be boarded up. They are cute but lose lots of
money which your company nor others want. The ones that do make
money have a chance at survival, but do not need your sappy
comments right now. Go back to selling your $99 rings.
hang em commented:
Hey Rob, what does not sit well with me is that you sit behind a
keyboard and do not live it. Do not pretend to know how those of us
who live it feel. I am with hang me and quelching freedom of speech
does not sit well and you should feel very much like a member of
the book burning club right now!!!-jp
IY commented:
I apologize Rob. Frustration runs deep, especially when it affects
many people you know.
IY commented:
Lets just say I have a lot of personal connections there, now and
before.
Rob Bates commented:
Hey, hang me, we're pretty lenient here, but when people make
serious charges against people by name, and do it anonymously ...
well, it doesn't sit right by me. You could probably say the same
thing without including specific names, and I welcome you to do so
... if you have any other further questions about this, you can
write me at rbates@reedbusiness.com. In any case, I understand this
is an emotional time, but please, people, keep it civil. - Rob
IY commented:
WHY do you think Dayoob left before this. He saw it coming and
didn't want anyone to say he destroyed a company. There is a big
ego that took a ton of all your money!!!!!! Looks like everyone
forgot him ,plan worked a little I guess.
hang me commented:
I just want to thank you for letting us express our freedom of
speech in America...Not
sally tettemer commented:
This mess started back when the Patinkins owned the company. I
think that the brother(s) lined their pockets with stupid business
decisions and rode the rail to oblivion. I also think that when
Hugh, a really nice person from all accounts, realized that the
house of cards was shaking the stress got him. Then a laundry list
of mental midgets came and went taking the company from it's middle
class niche to "high end" hell which didn't sell to mid-mediocre.
The smart one was the chick who looked at the books and ran home to
Penney's.(beryl Raff). The books were not cooked they were nuked!
Mike Don was just the last loser standing! p.s.
gitanjjaliallthway-SHUT THE F--K UP!
hang em commented:
Well said hang me, even if it did take you a while to get it all
out. Someone profited off of this deal and it was not the store
personel. "it was not my choice" yeah right Mr Donn, your greed
made you do it. It was definitely not our choice and neither were
you.
shaken up commented:
I for 1 would like to know what is being done with the people who's
business practices are less than ethical and definately not in the
best practices of our industry, ie "
Rob Bates commented:
Hey fla .. Well I guess it's still up in the air if the company
will be turned over to Gordon Brothers or whether this will all be
handled by the company itself ... I am not 100% sure on this, but I
think all purchases have to be approved by the court, which means
the store's fates could be decided pretty quickly ... But I have no
extra info right now, and I like to think that you guys at the
store level would be better informed than me at this point ...
fla commented:
Rob, if there is a possibility of some us us being sold in
groups...who would the future owner buy from?? Gordon bros.??? Have
you heard anything on that rumor. As you can see WH empls. have a
lot of driving spirit.
1stgroupcut commented:
Choking on pearls - nice meeting you today. Store looked great and
I'll be back if a "biggest sale ever" develops. Good luck to all
Whji sales staff!
N/A commented:
Are we supposed to continue to sell our "lifetime diamond
guarantee"? I feel like we are misleading our customers, well, we
are. We've been told business as usual until the liquidators take
over. Here's a question, how can the dm's make the announcement of
total liquidation and not know what company is doing the
liquidating?
Whitehall hubby commented:
Anything new? I am not see anything on the internet. This blog is
the only info.
beyond frustrated commented:
florida jeweler, I could not have said it better myself. While
Gitanjali girl is so happy and the bride she sold the "perfect
ring" we still need to feed, clothe, and shelter our children. I am
SOOOO!! glad Gitanjali girl is happy happy joy joy. Walk on our
side for a day!
WH commented:
IY Any word yet on the fate of the RVPs...(esp. our friend in the
Far West)?
floridajeweler commented:
So basically, Gitanjigirl, you just wanted to rub it in because
they're not being bought by Gitanji. Realistically, everything you
said is true, but it really didn't have anything to do with what's
going on. It's a great statement to make and I love your positive
attitude, but all it did was rub it in to those who currently work
for Whitehall.
Gitanjaligirlalltheway! commented:
In the end-All you can do is all you can do! All you can do
sometimes is show up to your cute little or big beautiful stores
and take care of each customer the best you can. Like you would
want to be treated. The economy - the biz - your company - your
stock mix quite often there's nothing you can do about it. What you
can do is make sure that bride has the ring she's always dreamt of
- that gift will light up their eyes - the gift your customer is
buying for themselves to brighten up their day will do the trick.
If you don't love it and it's still not fun everyday maybe your in
the wrong biz. Of course, I work for a Gitanjali company and
truthfully I love it! It's the best thing that has happened to my
cute little store! It's still not easy it's retail!
1stgroupcut commented:
IY-are you at HQ? Yes, MD left and MF & RN incharge. HQ rcd
papers. Some left today other by 8/15 and a few till year end.
Although that too could change. Don't know details about stores.
IY commented:
If the store is under 600,000 and not making money, it will more
than likely close. Bigger volume stores will stay open, liquidators
will love filling them up with more crap of theirs to sell at 70
off. More than likely the liquidator will not need all DM's, maybe
a few, but most go. I would tend to believe there is little need
for VP's. Funasaki is running company til the end.
floridajeweler commented:
Beyond frustration, if you've ever seen this happen before, which I
have several times (although not been a part of it), you know that
you don't trust what you're told. At this point, they're going to
tell you what they want to keep you as long as it benefits them.
2sad commented:
I'm confused too! Some stores liquidating; some sold; some open
thru Xmas??? Huh Someone please explain to me!!! Are the DMs/VPs
getting pink slips?
beyond frustration commented:
I saw someone said two wks. we were told in fl. 6wks business as
normal or is that a buch of crap too!!!!!!!
Rob Bates commented:
Court date looks like Friday August 8 ... again, good luck to
everyone ...
WH commented:
Thanks for the article Rob! Is there a court date this week to
decide the final deals?
IY commented:
Hey 1stgroup, did you see a lot of "scrap" being sent out of your
area to someone other than a refiner? Right upto now, could even be
some "broken" memo goods considered SCRAP AND UNSELLABLE. Don't
know who you worked for.
Rob Bates commented:
Hey, everyone. I'm working on a story for the main site right now,
but the company head just sent out an email saying the "chances of
continuing as a going concern" ended on Friday and the company will
not "function as a standalone entity." I think the question now is
how many stores are bought, and that's a pretty open question that
may get negotiated down to the deadline. The details are still in
flux, but the overarching picture is pretty clear. Anyway, we're
all reading your messages and wish everyone the best, and hope to
keep you appraised of any new twists and turns ...
CrankyDave commented:
Separation notices have been served to the folks at corporate and
the dates (subject to change) are anywhere from today until late
December. Another caveat here is let's not forget that this still
needs to be approved by the judge.
WH commented:
Are you referring to people at the HO? It's not 2 weeks for us in
the field, is it?
1stgroupcut commented:
WH-all I can confirm is some staff hve told whn last work date. One
said today, another said 2wks. Apparently a mtg took place this am.
WH commented:
When is the sale going to start????
WH commented:
1st Group...what do you mean "2 wks?" Anybody have a copy of the
email that we can post here?
Still Hopeful commented:
Thanks for the update. Wished I could have heard it from my own
people. What a very sad time for WH employees. Not so hopeful any
more.
1stgroupcut commented:
Thanks Cranky. Yes, it's true. Rc'd 2nd email fm exc stff-2wks.
CrankyDave commented:
Unfortunately yes Still Hopeful.
Still Hopeful commented:
I work for WH too, why wouldn't I know as well????? RB has not made
it official....Are you 100% sure?
CrankyDave commented:
@ Still Hopeful... Unfortunately, not speculating. @ WH... My wife
works in Chicago... for the moment anyway. I truly wish I'm wrong
but as I said, I would expect something "official" today.
1stgroupcut commented:
Just heard from corp - Whji to be liquidated.
WH commented:
Stuart - you are soooooooooo right about the corruption!!! I think
we are sinking...ala Titanic. It's over buds! Hey CrankyDave -
where did you find out that Gitanjali has pulled out???
Still Hopeful commented:
You seem pretty sure about that CrankyDave. Are you speculating or
do you know?
CrankyDave commented:
I expect it will likely be made official today. Gordon Brothers bid
will be accepted and the company liquidated. Gitanjali has pulled
out.
Bench Jeweler commented:
I do think a desision will happen this month.I also think if
Gitanjali don't take the majority of the stores,Gordon Bros.will
buy then turn them for a profit.
stuart commented:
I think its great that the bankruptcy judge is finally "getting it"
and the ruling about the UCCs either being or not being
perfected.......one L versus 2 Ls is an insult to anyone following
this case not to mention outright fraud. The bankruptcy judge is
probably crying in his beer knowing the trustee he appointed will
not be able to sell the memo goods and kick something good back to
him. What should happen is the bankruptcy judge and his total list
of his friends who are the appointed trustees in many cases should
be arrested and jailed for all the money they have stolen from
creditors over the years. The system really sucks ...Rob-if you and
I were appointed trustees we wouldnt have to work for a real
living! I think by delaying the auction decisions and not accepting
the highest bid this just gives the trustee more billing hours to
steal even more from the pot, which will provide the money
necessary to give to the judge for his summer vacation. Just the
thought that this idiotic judge would rule and state the companies
with UCCs and memo goods would be better served by litigation is a
horrific fraud which he is not only initiating but also
participating in .....after all, once all the companies holding
UCCs for memo goods start lawsuits against Whitehall, the trustee
will defend these lawsuits and just keep billing ....great for the
dishonest judge.....isnt this a total scam and shame, doesnt this
just make your blood boil to know our system is so corruct but all
the people involved (judge & trustee) all wear suits and
ties!!!!!! you do the math
FloridaJeweler commented:
No, I'm not who you think I am because I'm not over at Florida
Mall. In regards to the particular manager I'm referring to,
yes...this person is either ignorant or just refuses to see the
writing on the wall. As far as my recruiting tactics are concerned,
the person came to me first, then was talked into staying by the
manager, so don't presume.
no name commented:
hey florida jeweler (maybe @floida mall) don't worry WH managers
are definitely not ignorant as to what is really happening and if
associates don't see writing on the wall.. kidding themselves
..people DON'T like change. Maybe you should try and refine you
recruiting tactics.
FloridaJeweler commented:
Hey, WH, I wasn't bitching in reference to myself. I work for one
of the competitors. I've seen a Whitehall manager in my area that
is wholly ignorant of what's going on in the company and would tell
the employees whatever it takes to keep them. The sad thing is, the
person I was recruiting, who didn't come on board, is going to be
in a much worse position when they come on board later, whether
it's in two monrths or fourth months, however long it takes.
Garry Holloway commented:
Correction - Michael Hill is a Kiwi company. They have done very
well and seem to be able to handle expansion and already have multi
country experiance and have done a few take overs already. They may
be able to do well in USA
Still Hopeful commented:
There is no doubt that the non-productive stores will be closing
and you know who you are. There still seems to be interest in the
other stores. Whitehall will change as we know it today but I have
no doubt that it will continue and be successful.
groupnotcut commented:
Interesting note...it appears not all merchandise is being pulled
on the consignment recall...i bet the creditors/vendors would be
interested to know...also the RVPs and RMs are talking the same old
crap....Do they think we are that naive or are they being that
naive...
WH commented:
Any news about the RVPs and DMs still out there?
1stgroupcut commented:
I worked at exec. office and for a top dog. I was in first group
laid off. No severance OR 60 day notice. All top dogs are still in
dog house. Corp will find out Monday what their future holds. Glad
to be outta there! Note - unemployment now pays 9 months instead of
the basic 6.
WH commented:
Hey 60 -90 days with a paycheck and benefits is better than
unemployment! Either we stop bitching and go to another place..or
shut up...a collect whatever we can! Xmas is a bitch wherever we
work! Lots of hrs! I'll take the OT. COBRA costs a fortune.
FloridaJeweler commented:
The sad thing is when you have good salespeople that are being told
lies by the management in order to keep them. When the time comes
that they're out of a job, they're going to be in a tougher
position.
WJ1 commented:
The company that did the liquidation a few years ago was The Gordon
Co - out of Fla. someplace. The current liquidatiors Gordon
Brothers is from Boston. They did the Bombay sale. My friend got a
very big bonus....around $4K! Hey IY ---are we talking about the
same dude - ZG...the Teflon Don! Is he still around??? LOL! Loser!
Choking on Pearls commented:
The big question here is do we go or stay? I mean... big business
aside...we have bills to pay, this is why we work in the first
place. I am with who ever said the company would give us a 90 day
notice LMAO,, yeah right even if they could.. how many would stay
to the end? and we would have 2 or 3 working o to c 7 days a week
..and in the end all we would have is tired feet..i could just hear
our DM yelling to sell sell sell when we have nothing in our cases
to sell.
also been there commented:
Been there is right! A bunch of us managers called each other to
check productivity and percentages and the liquidators told us we
had qualified for the big bonus however, Whitehall denies this and
would not pay. In the end the home office said they felt bad for us
so we got like 350.00. An insult to our intelligence! I have seen
whitehall close a store by having the d.m. meet manager at gate at
open and say it was closed! Everyone, please cover yourselves and
have a backup plan. Rumor has it that home office is emptying
out-people are leaving when they find something else.
been there commented:
there is usually a bonus of $500 (350) fter taxes to stay a couple
of weeks after announcement and another of the same amount if your
last stock balance is at about 97% complete. Forget promises of big
$4000 bonus at end of liquidation if ALL stores make their sales
goal. According to our liquidators at the last closing, we had all
made bonus-guess what? no bonus! Whitehall said we didn't make
goal-somebody lied and i am inclined to believe liquidators who
said whitehall didn't pay up! Stay for the unemployment but DON'T
believe the big bonus. You will not get 60 days notice-how can
they? Everyone would jump ship,no one to run stores! Good luck to
all but maintain perspective and common sense.
no name commented:
Peace out what did you hear about managers comp and bonuses who
ride it till the end?
no name commented:
Has any one heard any scoop on florida
peace out commented:
Whitehall employees who are not in malls are gonna have a hard time
finding work. there arent any other jewelers in more "country
locations." I'm gonna ride it out with liquidation because
unemployment is better than no paycheck at all. i understand the
managers compensation and bonuses are so good it may be worth
staying for most of us.
IY commented:
WAY,WAY West! Although, I think I know where and who your talking
about. That area is a mess. Lots of open to close shifts going on
there with many more to come. Listen guys, management no longer
cares about you, they will do whatever it takes and tell you
whatever they have to to keep stores doors open til a final
resolution comes. So get ready to put in a ton of hours with
everyone leaving. Plenty of positions right now for the good
salespeople of whitehall. Sterling has made so many moves they had
a bigger than usual turnover these past few months. Same at Rogers
and Holland. Upper management there has lost its mind and is
putting a ton of pressure on its managers. So if you don't mind a
little pressure, they have openings!!! Zales. Well, I guess if your
desperate.
Mall Jewelry Boy commented:
Rob said Gordon Brothers had the highest bid, so I'm supposing
that's not a tie...Hopefully more information will come out on
Monday. Whitehall has been losing salespeople and especially
managers for years, and now I'm seeing even more people jump ship
at local stores. I'm curious as to what Whitehall's management is
telling their employees.
wh1 commented:
Rob -Are there any other liquidators in the running? Is Gitanjali
tied in with Gordon liquidators. I read that online someplace. Hey
IY...are you referring to the lands west of Chicago/mid-West???
LOL!!!
IY commented:
I know of one person, in charge of a lot of people(read between the
lines)in a certain area of the country (not chicago)that they
should tell customers whatever they feel is right. Needless to say,
this area is not doing too well and will definitely be one that is
closed. But that is the attitude out there. I feel right now that a
lot of wind has been taken out of the sails of the current
management group. Things are not going according to their master
plan. So if anyone needs buyers or office help, I am sure a lot of
people downtown are looking for a position. Some good people down
there, along with maybe some not so good.
DiamondsRlove commented:
So are they really just considering keep the 78 former freidmans
stores?
peace out commented:
I can speculate all i want..but in a dead economy we will be lucky
if any stores get bought. i think we should all prepare for the
worst..so when the time comes.. we wont be dissappointed or may
even be pleasantly surprised. what is hard is playing the game the
upper management wants. telling people they have a lifetime
guarantee is very hard for some of us. we dont want to be made a
liar.
IY commented:
This is far from over. Yes, many stores, mainly the small whitehall
locations probably will close. Its funny that management is telling
everyone in the stores they will get at least 60 days notice if
they are going to close their location. NOT! Breaking up the
company wasn't originally the plan I heard, but look at this mess,
I guess anything is possible. Mari, yes, your management team had a
plan way back then to unload the bad and keep the good, just got
too messed up! The group that would be bidding would just be an
investors group, probably not named whitehall or such, but would
include one or more top whitehall people. Will be interesting to
say the least. Michael Hill is going to want top of the line
locations (woodfield mall, downtown chicago). Like I said on other
blog, hopefully gordon company doesn't get it.
Mari commented:
Man, how ironic that they may be keeping the Friedmans stores.
Someone must have known what they were doing when they purchased
those 78 stores. I wish the best of luck to all involved.
confused diamond girl commented:
just wondering how long before an official announcement could be
made. its the waiting game that is so hard on everyone.
Rob Bates commented:
Hey, Peace out ... well, first off, as you may remember, Friedman's
didn't take its high bid (from Whitehall). Secondly, the person I
spoke to hadn't heard of any Whitehall president's group that was
bidding ... I guess it's still possible that one exists, but this
person was pretty clear on that. Finally, I can certainly
understand why you would speculate, given all that's at stake here,
but everyone I spoke to said things are very much in flux, and we
really don't know how things are going to shake out until an
official announcement comes. Unfortunately, things don't seem that
much clearer than they were a few days ago, and we're all going to
have to sit tight and see what happens.
PEACE OUT commented:
I guess that since you say that the company may not accept the bid,
that means that the whitehall presidents group could have more
money than the highest bid? i didnt know that Whitehall had a
choice to not accept the biggest offer. So what that other blogger
who calls themselves IY may be true and this person says they are
keeping the Friedmans locations and possibly some whitehall and
ludstrom.
Mall Jewelry Boy commented:
So a liquidator comes out on top...it will be interesting to see
what will happen now. I do feel that there is a very strong
possibility that at the very least some stores with good real
estate or turning a high profit can be saved. I can see Michael
Hill grabbing the 17 they want (we NEED an infusion of new energy
in chain jeweler world!), and Gitanjali picking up stores in
Samuels' trading area where there's no overlap in a mall. There's
almost no doubt that at least some stores will be
liquidated...especially the very small locations and
underperforming stores. We'll have to wait to see just how big of a
liquidation will occur. I really do think we need to have some hope
though, as obviously buyers are interested if they stay up until
4AM (anyone know what time/how long the Friedman's auction took?).



















