Beleaguered jewelry retailer Finlay Enterprises has decided to close all its specialty stores, including Bailey Banks & Biddle, Carlyle & Co. and other outlets. Finlay, which has endured a restructuring and a bankruptcy filing this year, will apparently be out of the retail jewelry business after store-closing sales are complete.
jewelry: September 2009 Archives
The economic downturn is hitting local stores especially hard. Saddest
among those affected are the decades-old establishments suddenly facing
bankruptcy or liquidation. Recent news affects numerous local stores
with long histories:
- In Ogdensburg, N.Y., 99-year-old Hulett & Sons Jewelers is closing up shop. The jeweler, which is part of the larger Hacketts store, is selling its inventory to help Hacketts stay afloat. Hulett & Sons first opened in town in 1910.
- Alma, Michigan's Miller's men's shop is folding after 47 years in business. Owner Duane Stacey blames clothing trends and shifting shopping habits as driving forces of the closure.
- And legendary Memphis music store Pop Tunes closed both locations this month. Pop Tunes dates to 1946 and was not shy to discuss its demise, noting the "rampant illegal downloading ... low margins, big box retailers" and other factors as factors in the closings.
