Connect with us

Headlines

Jewelry Chain to Close Its 9 US Stores After Failing to Find Buyer

mm

Published

on

It’s targeting April 30 for the closings.

Brisbane, Australia-based Michael Hill International Ltd. has been unable to find a buyer for its nine U.S. stores and is preparing to close them.

The company said in a press release that “efforts to find a purchaser for the US business did not result in any satisfactory offers.” The closures are expected to take place on or around April 30.

Michael Hill announced in January that it was planning “the complete exit of the loss-making retail operations in the US.”

The cost of exiting the stores, including lease termination and employee severance expenses, is expected to be $4.5 million.

The company has 317 Michael Hill stores in Australia, New Zealand, Canada and the U.S. and 30 Emma & Roe stores in Australia and New Zealand.

Advertisement

Advertisement

SPONSORED VIDEO

When Sales Beat Projections, You Know Wilkerson Did Its Job

There are no crystal balls when it comes to sales projections. But when Thomasville, Georgia jeweler Fran Lewis chose Wilkerson to run the retirement/going-out-of-business sale for Lewis Jewelers and More, she was pleasantly surprised to learn that even Wilkerson could one-up its own sales numbers. “Not only did we meet our goal, but we exceeded the goal that Wilkerson had given us by about 134%,” she says. After more than 40 years in the business, Lewis says she decided a few years ago to “move towards retirement.” And she was impressed by Wilkerson’s tenure in the industry. Overall, she’d recommend the company to anyone else who may be thinking it’s time to hang up their loupe. “As a full package, they’ve done a very good job and I’d definitely recommend Wilkerson.”

Promoted Headlines

Most Popular