Headlines

Jewelry Company to Shut Down Plant, Cut 42 Jobs

Published

7 years ago

January 20, 2017

INSTORE Staff

Its parent was acquired this month.

Jewelry manufacturer Samuel Aaron Inc. plans to shut down its operations in Mount Vernon, NY, with 42 jobs to be cut.

The closure is set for April, the Journal News reports. The newspaper cites a filing with the state Department of Labor.

Samuel Aaron produces DiamonLuxe simulated gemstone jewelry along with other products.

Richard Katz, chief operating officer for Samuel Aaron, was not available for comment, the Journal News reports.

The layoffs are set to begin April 12 and continue over a two-week time frame.

Samuel Aaron, which has several hundred employees worldwide, is part of the Aaron Group. The Aaron Group was acquired this month by Richline Group, a wholly owned subsidiary of Berkshire Hathaway.

Richline’s CEO, Dennis Ulrich, said in an earlier press release that the acquisition “will allow The Aaron Group to continue as the leader of bridal, three-stone and fashion diamond and gemstone fine jewelry while leveraging Richline’s advanced capabilities across our entire jewelry value chain.”

Read more at Journal News

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.”