Warner Co., a highly respected 144-year-old jeweler, plans to hold a liquidation sale, according to the company the court appointed to handle the sale.
Cliff Marsden of Shelly, Idaho–based Marsden Brothers Promotions, says the sales will begin in November.
The Fresno, Calif.–based company filed for Chapter 11 on Sept. 20. The company did not respond to requests for comment from JCK.
On Nov. 1, a judge for the United States District Court for the Eastern District of California approved the company’s “motion to sell.”
“The company has demonstrated a sufficient basis and legitimate business reasons for conducting a ‘going out of business,’ ‘bankruptcy liquidation,’ ‘store closing,’ or similarly themed sales,” the judge wrote. “[Warner Co.’s] liquidation of its assets by the sale…is in the best interest of [its] estate.”