July 24th, 2009
The growth of e-commerce, the loss of domestic manufacturing, and a devastating recession have significantly impacted the jewelry industry in the U.S. The issues facing the businesses on 47th Street grow more complex as the pace of change accelerates.
This month, DDN asked several leading professionals:
“I think the industry has changed more in the last few [...]
June 24th, 2009
Whether it’s the economy, the Internet, real estate prices or consumer buying habits, there are no shortage of issues that concern the jewelry professionals on 47th Street. The Diamond District News wants to find out what’s on your mind. Starting with the June issue, DDN is launching a feature titled: “Question of the Month.”
This [...]
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call 212-556-6960 for more information. - Speidel Files for Bankruptcy
Speidel, a 105-year-old seller of watchbands, filed for bankruptcy. The Cranston, R.I.-based jeweler has had several owners over the past century, most recently Frederick Levinger, who came out of retirement to acquire Speidel two years ago.
However, the economic downturn derailed Levinger’s plans, said his attorney, Stephen Carlotti. “It’s the nature of the beast right now,” [...]
- Robbins Brothers Begins Fresh Start
Retailer Robbins Brothers completed the sale of its assets to a new legal entity called Robbins Brothers Jewelry. The court-approved sale enabled the Robbins Brothers chain in California and Texas to continue operations after emerging from Chapter 11 reorganization. The chain sold off some Texas stores and certain assets in Illinois to Spence Diamonds during [...]
- Longtime Brooklyn Jeweler Closes
Carroll Gardens Jewelers, a Brooklyn-based jewelry store, has closed up shop after 28 years. The location at 306 Court St. was known for many years as Casale Jewelers. When the owner retired two years ago, two employees took over the business and renamed it Carroll Gardens Jewelers.
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- Jewelry Designers Michael Beaudry, Henry Dunay File for Chapter 11
Jewelry designer Michael Beaudry Inc. and Henry Dunay Designs Inc. have filed for Chapter 11 bankruptcy protection. The filings came within two weeks of each other.
Los Angeles-based Michael Beaudry designs hand-crafted jewelry. Beaudry’s clientele includes Beyonce, Katherine Heigl and “Gossip Girl’s” queen of bling Michelle Trachtenberg
Among the largest unsecured industry creditors, Michael Beaudry lists: Olympic [...]
An Edison, N.J., jewelry store owner was killed in what police are calling a possible cyanide-related death. The owner of the Aabhushan Family Jewelers, identified as 46-year-old Sushil Bhalla, was found dead June 15 Monday after police received reports of a chemical release. Police found a container with 4 to 5 ounces of cyanide in a [...]
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