Lillys’ Jewelers, the largest independently owned retail jewelry chain in West Virginia, is closing. The company filed for bankruptcy in mid-April, with some $3.7 million in liabilities and several hundred creditors. While many are customers, there are also a number of trade creditors and local TV stations that are owed money, say court documents. The largest creditor was City National Bank (owed more than $1.3 million) in Beckley, W.Va., where Lillys’ is headquartered.
The company is liquidating its assets (worth about $4.6 million, according to court documents), including inventory, corporate headquarters, and possibly some store sites. It has nine stores in West Virginia, including four in the Charleston, W.Va. area and one in Virginia.