The news of the economy is front page lately. It seems that this is all the newspapers and news media outlets are discussing. No business appears to be immune to the fallout of the recession - and jewelry businesses have not escaped.
One company which has caught my attention is the Colibri Group, which also markets under the name of Bolan Bullock, Seth Thomas and Krementz. (Krementz is a well known vintage jewelry design mark, and well respected. Colibri has been ordered to sell all assets by mid June this year. The company, based in Rhode Island is one of the leading suppliers of independent and chain jewelers. It suddently closed on January 14 this year, citing "current economic conditions."
Also, a US court has ordered the liquidation of the Christian Bernard Jewelry Chain. The company abruptly closed its fifteen store and filed for bankruptcy on December 26 last year. It has recently reopened its stores as part of the liquidation process, so that the assets can be sold.
Christian Bernard stores are located throughout the Eastern US.
It will be interesting to follow the news of other jewelry suppliers and chains as the recession takes hold of our country.