Smyth Jewelers Takes Over Bailey Banks & Biddle

Bailey Banks & Biddle Group has hired Baltimore-based Smyth Jewelers to manage the company’s nine locations.

Smyth’s current leadership team of Mark Motes and John Jackson will serve as the company’s chief executive officer and chief operating officer, respectively. The company will manage operations, purchasing, administration, and field support functions, a statement said.

Bailey Banks & Biddle Group declined to provide additional details. But former CEO and president Paul Leonard tells JCK he has stepped down due to health issues, which he calls “serious but not life-threatening.”

Bailey Banks & Biddle currently has locations in Arkansas, California, Florida, Missouri, Pennsylvania, Texas, and Virginia.

Smyth currently runs 13 stores: three locations in Maryland (in Timonium, Annapolis, and Ellicott City), and 10 Pandora stores nationwide.

Bailey Banks & Biddle, established in 1832, was purchased by Zale Corp. in 1962, and sold to Finlay in 2007. Following Finlay’s liquidation in 2009, the name was revived by former Zale exec Leonard.

“For some time now, Smyth has served a consulting role with Bailey Banks & Biddle where we shared best practices and sales techniques so we are very familiar with the quality of the brand,” noted Mark Motes, CEO of Smyth Jewelers, in a statement.