Engagement ring string of connections, Robbins Brothers, has become the newest jewelry shop to document for Chapter 11. The 16-store string of connections sent an account itself as the "world's large-scale commitment store" doing a brisk enterprise in precious gem rings and charming promise purchasers with a newspapers crusade boasting Skip and Steve, the Robbins Brothers.
The shop will be broken into two components and sold. As National Jeweler reports, bankruptcy articles display that the business will be split up into two components and sold. Unless it is miraculously released by another purchaser, Robbins Bros. Corp. will deal the California shops to Robbins Bros. Jewelry, fundamentally to itself, while Canadian jewelry constructor and retailer Spence Diamonds will purchase the three Houston shops and Illinois locations. Robbins Brothers amplified quickly over the past couple of years and was finished in by liquidity matters which were aggregated by the slowdown in buyer spending. Sales declined round three per hundred last year.
The three-generation, family-owned shop moved from being a little jeweler to increasing into shopping centres and then in 1995 unfastening a large bridal-only store.
Jewelry shops have been especially strike by the awful finances (hence the need for a Sparkle Week). Fortunoff is in the method of liquidation and Zale's is concluding 115 stores. With internet sales taking a larger chunk of jewelry sales each year, jewelry shops were currently feeling squeezed. The recession could lead more little jewelry chains to close their doors.
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