Finlay Enterprises, the jeweler retailer behind such brands as Bailey Banks & Biddle and Carlyle, filed for bankruptcy protection. The company plans on selling its assets at auction, bringing an end to its current composition. Finlay, which dates to 1887, still has nearly 200 locations including department store installations.
Finlay announced a series of store closings in February, which proved to be insufficient in narrowing the company's losses.
In related news, Zale closed 118 locations in the past fiscal quarter, bringing its total closings to 191 this year as it tries to preserve its own profitability.
