Headlines

Defunct 150-Store Samuels Jewelers Chain’s Inventory Acquired

The chain’s inventory had a retail value of $90M.

Published

5 years ago

August 8, 2019

INSTORE Staff

SimplexDiam has bought the residual gold and diamond jewelry inventory of Samuels Jewelers, a collection amounting to 33,000 pieces.

The sale consisted of the balance inventory of 150 stores, with a retail value of $90 million. That makes it the “largest liquidation of a retailer’s residual jewelry inventory in the past 10 years,” according to a press release from SimplexDiam, a diamond and jewelry liquidation and asset recovery specialist.

The merchandise included diamond jewelry categories such as bridals, semi mounts, fashion, earring studs and solitaires, as well as lab-grown jewelry.

Shail Y. Madhvani, vice president of SimplexDiam, noted “the nice price points in keeping with the present diamond market prices ⁠— we have never seen nice diamond and gold bridal and semi mount product at such prices.”

Austin, TX-based Samuels closed its stores in February. It had filed for Chapter 11 bankruptcy in August 2018.

SimplexDiam plans to sell the inventory through its various trade shows from August through October. A list of these trade shows can be found here. The first trade show is set for Aug. 10-12 at the SJTA Atlanta Jewelry Show.

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

Thief Swapped CZ for Diamonds at Jewelry Stores in 5 States

Don't Miss

10-Store Jewelry Chain Acquired

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.”