Christian Bernard Jewelers, a 30-year old jewelry chain which operates 15-stores, abruptly filed for Chapter 7 on Dec. 26.
In a corporate resolution accompanying its Chapter 7 filing, the Secaucus, New Jersey-based company noted that “due to a precipitous fall in consumer spending, the company’s shops are underperforming” and “the Corporation’s existing lender has informed it that it may not renew the company’s current lines of credit” and “alternative credit facilities appear to be unavailable.”
“The ongoing operations and conduct of business by the Corporation appears to be unsustainable,” it concluded.
Christian Bernard Jewelers operated 15 stores in Long Island, Connecticut, Pennsylvania, Maryland, Virginia, Washington, D.C., North Carolina, Chicago and St. Louis, its Web site says.
Press reports from local newspapers in Connecticut and Virginia said the company’s stores there closed the day after Christmas without notice.