There's good news.

As Scoville Jewelers in downtown Glens Falls, NY, closes its doors, another jeweler plans to take its place.

Regional chain Northeastern Fine Jewelry plans to open in the space, with a grand opening to be held in February, the Glens Falls Post-Star reports.

The newspaper reported in November that Scoville Jewelers would close, with the owners to retire. Husband-and-wife Chris Scoville and Debra Vales planned to travel worldwide to "search for an eventual winter residence on par with their summer home in Lake George," according to the Post-Star.

The business opened in 1952 with Scoville's parents at the helm. When the closing was announced, Scoville said the couple would hold onto the buildng and rent it out.

And that's what he did.

Northeastern Fine Jewelry has signed on for a five-year lease, and a renovation is now planned.

The newspaper quoted Scoville saying: "We are thrilled that they will provide our customers with the highest quality items and services, while continuing the tradition of a family-owned jeweler at our former location."

Read more at the Post-Star

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