There are two new owners of Robbins Brothers, the company just got confirmed to me.
The company’s re-org plan has basically unfolded the way it was originally envisioned, with “Robbins Brothers Jewelry” (an affiliate of investment firm Weston Presidio) taking most of the chain, and Canada’s Spence Diamonds taking the Houston and Chicago assets. However, it appears, based on the comments we’ve gotten and what my sources tell me, at least some of the Chicago stores will be closed.
There was originally talk of a second bidder getting involved. However that bidder never showed up, clearing the field for Weston Presidio.
A release is apparently coming in the next day or so, and we’ll post it on the main site. Best of luck to everyone at Robbins Brothers.
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