Headlines

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

A move hurt the retailer’s business.

Published

5 years ago

June 5, 2019

INSTORE Staff

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 Business of Jewelry

Smith and DeGroot Release “Much Ado About Lab-Grown Diamonds” Podcast Episode

The Business of Jewelry

New “The Business of Jewelry” Podcast Addresses Questions of Hiring

JimmyCast

Podcast: Put Your Heart in Your Business

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.

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

INSTORE Staff

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at editor@instoremag.com.

click to Comment(Comment)

Up Next

Jeweler Turns Away Deputy Because of Gun, Gets Skewered on Facebook

Don't Miss

Swarovski to Enter Natural Diamond Market

This Third-Generation Jeweler Was Ready for Retirement. He Called Wilkerson

Retirement is never easy, especially when it means the end to a business that was founded in 1884. But for Laura and Sam Sipe, it was time to put their own needs first. They decided to close J.C. Sipe Jewelers, one of Indianapolis’ most trusted names in fine jewelry, and call Wilkerson. “Laura and I decided the conditions were right,” says Sam. Wilkerson handled every detail in their going-out-of-business sale, from marketing to manning the sales floor. “The main goal was to sell our existing inventory that’s all paid for and turn that into cash for our retirement,” says Sam. “It’s been very, very productive.” Would they recommend Wilkerson to other jewelers who want to enjoy their golden years? Absolutely! “Call Wilkerson,” says Laura. “They can help you achieve your goals so you’ll be able to move into retirement comfortably.”