Headlines

Day’s Jewelers Is Now Employee-Owned

The 120 workers did not have to make an out-of-pocket contribution.

Published

3 years ago

November 14, 2021

INSTORE Staff

Day’s Jewelers, a retailer with eight stores in Maine and New Hampshire, is now employee-owned.

The company, which was family-owned, transferred ownership via an employee stock ownership plan, the Kennebec Journal and Morning Sentinel reports.

Day’s described the plan as a significant retirement benefit. The 120 employees did not have to make an out-of-pocket contribution.

Kathy Corey, former co-owner of Day’s, said, “By converting the business to an ESOP, the future of the business would be kept in the hands of our employees, we could keep our current leadership, and the amazing Day’s family culture we have built.”

Portland-based Day’s was founded in 1914. At one point it operated 21 stores in the region, Mainebiz reports.

Read more at the Kennebec Journal and Morning Sentinel

You Wouldn’t Cut Your Own Hair. Why Run Your Own Retirement Sale?

After being in business for over a quarter of a century, Wayne Reid, owner of Wayne Jewelers in Wayne, Pennsylvania, decided it was time for a little “me time.” He says, “I’ve reached a point in my life where it’s time to slow down, enjoy a lot of things outside of the jewelry industry. It just seemed to be the right time.” He chose Wilkerson to handle his retirement sale because of their reputation and results. With financial goals exceeded, Reid says he made the right choice selecting Wilkerson to handle the sale. “They made every effort to push our jewelry to the forefront of the showcases,” he says, lauding Wilkerson for their finesse and expertise. Would he recommend them to other jewelers who want to make room for new merchandise, expand their business or like him, decide to call it a day? Absolutely he says, equating trying to do this kind of sale with cutting your own hair. “The results are going to happen but not as well as if you have a professional like Wilkerson do the job for you.”