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

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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.

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If It’s Time to Consolidate, It’s Time to Call Wilkerson

When Tom Moses decided to close one of the two Moses Jewelers stores in western Pennsylvania, it was time to call in the experts. After reviewing two candidates, Moses, a co-owner of the 72 year-old business, decided to go with Wilkerson. The sale went better than expected. Concerned about running it during the pandemic, Moses says it might have helped the sale. “People wanted to get out, so there was pent-up demand,” he says. “Folks were not traveling so there was disposable income, and we don’t recall a single client commenting to us, feeling uncomfortable. It was busy in here!” And perhaps most importantly, Wilkerson was easy to deal with, he says, and Susan, their personal Wilkerson consultant, was knowledgeable, organized and “really good.” Now, the company can focus on their remaining location — without the hassle of carrying over merchandise that either wouldn’t fit or hadn’t sold. “The decision to hire Wilkerson was a good one,” says Moses.

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