Headlines

Alex and Ani Is Closing 20 Stores and HQ

The company has 50 employees in Rhode Island.

Published

3 years ago

June 29, 2023

INSTORE Staff

Alex and Ani is shutting down 20 stores along with its East Greenwich, RI, headquarters.

Employees learned of the closings in an all-staff meeting this week, the Boston Globe reports. They were instructed to begin working from home immediately.

Alex and Ani CEO Scott Burger told the Globe that the company is looking at a hybrid working model. He said Rhode Island employees “will work remotely until we determine our future office needs and conduct a search.” Alex and Ani has 50 employees in Rhode Island.

The company will continue to operate seven stores, according to the report.

Alex and Ani began Chapter 11 bankruptcy proceedings in an effort to stabilize its business in 2021.

The company was founded by Carolyn Rafaelian in 2004. Lion Capital took a controlling stake in Alex and Ani in 2019 and Rafaelian was eventually pushed out as CEO of the company.

After 35 Years in Kent, Bonaci Fine Jewelers Found the Right Partner to Close the Right Way

Bob Bonaci spent 35 years building a jewelry business and community presence in Kent, Washington. When he decided it was time to retire, he knew the process would take careful planning — and the right help. Fellow jewelers who’d been through it pointed him to Wilkerson. The results exceeded expectations. Wilkerson’s hands-off approach let Bonaci step back while the team handled every detail, meeting his personal and financial goals throughout. “It is phenomenal, the success that we’ve had.” Watch Bob share his retirement story.