William Chalson & Co., Inc., one of the industry’s best-known fine jewelry manufacturers, is shutting its doors.

The 92-year-old New York City company will close on Mar. 1, co-owner Robert Chalson told JCK. A letter announcing the closing was mailed to the company’s clients on Feb. 12.

Chalson said there were ”dozens” of reasons for the closing, including the company’s lease, which would double in cost when it comes due on Mar. 1. That raised questions as to whether to stay or relocate, and finally, ”we decided its time for us to move on,” he said.

The company, best known for its 18k and platinum diamond and colored stone jewelry, was founded by William ”Pop” Chalson, a Russian immigrant and skilled jewelry trade craftsman. His son Bernard joined him in 1934. In 1970, his grandsons, Lawrence and Robert, took over and in 1994, great-grandson John joined the company. The firm was one of the few to be three time winners of the Diamonds International Award, earning it permanent membership in the prestigious Diamonds International Academy.

JCK