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Day’s Jewelers Is Now Employee-Owned

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

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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

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