Connect with us

Headlines

Bankrupt Jewelry Store Is Selling Off Everything — Including Its Iconic Chandelier

A move hurt the retailer’s business.

mm

Published

on

Scheherazade Jewelers in Edina, MN, is shutting down, and everything must go — including its iconic chandelier.

The high-end store closed suddenly in March, then reopened in May for a 30- to 60-day going-out-of-business sale, the Star Tribune reports.

The Metaverse and the Future of Marketing
Keepin' It Real

The Metaverse and the Future of Marketing

Podcast: So What’s So Special About Trade Shows?
JimmyCast

Podcast: So What’s So Special About Trade Shows?

Podcast: What’s Your Instagram Lifestyle?
Keepin' It Real

Podcast: What’s Your Instagram Lifestyle?

According to the newspaper, the business in Edina’s Galleria filed Chapter 7 bankruptcy in March.

Owner Scott Rudd is no longer working in the store. It’s being staffed by “a couple of longtime employees and workers from Eaton Hudson liquidation company,” the Star Tribune reports.

In a recent Facebook post the store said it’s accepting silent bids for its chandelier, along with “a variety of other decor, artwork and furniture.”


Most merchandise in the store has been discounted 20% to 60%, plus another 10 % off the initial discount.  Proceeds will go to unpaid wages as well as other debt, according to the Star Tribune.

Advertisement

The store’s financial troubles have been linked to a move from a high-visibility location in the Galleria to a less prominent one.

Read more at the Star Tribune

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at [email protected].

Advertisement

SPONSORED VIDEO

Maximize Every Sale with Wilkerson

When it’s time to run a sale, whether it’s a retirement, going-out-of-business, anniversary or “we’ve got too much merchandise” sale, let Wilkerson handle the details. The Diamond Galleria did just that when they selected Wilkerson to run its liquidation sale. According to Sharon, their CPA, it was the right choice. “We could have done a going-out-of-business sale ourselves and done 30 to 40 percent of what we actually sold with Wilkerson involved,” she says. Seeing the strategies that Wilkerson puts in place for every sale was something that convinced her they had made the right move. “I would highly recommend Wilkerson to anyone considering this type of sale.”

Promoted Headlines

Most Popular