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Kathy and Jeff Corey Transfer Ownership of Day’s Jewelers to Employees

The transfer to employee-owned has been under development for several years.

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Kathy and Jeff Corey Transfer Ownership of Day’s Jewelers to Employees

(PRESS RELEASE) WATERVILLE, ME — On November 1st, 2021, Day’s Jewelers transferred ownership of its family-owned business to its employees. The Employee Stock Ownership Plan (ESOP) will benefit its 120 employees, making Day’s the only employee-owned and operated jewelry company in Maine and New Hampshire.

“Since my wife Kathy and I purchased Day’s in 1988, we have always set out to build a company that stands the test of time,” said Jeff Corey, VP of Marketing and Co-owner of Day’s Jewelers. “Becoming an ESOP and placing our future in the hands of our tremendous employees, will ensure the continued success of the company and culture we’ve built over the past several decades.”

Kathy Corey, Day’s co-owner goes on to say, “Since its founding in 1914, Day’s Jewelers has held the important core principle of providing the best value to our customers. When considering the future of the company, we weighed the options of selling to an outside buyer or selling to our employees. 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.”

Day’s joins a number of other high-profile employee-owned companies in Maine, including Cianbro, Moody’s Collision, Clark Insurance, ReVision Energy, as well as Yankee Publishing, Inc., Cirtronics Corp., and Hypertherm in New Hampshire.

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It’s Going to Set Us Up Very Nicely for Retirement

You’ve worked hard all your life. And if you’re like most jewelers contemplating retirement, you’re hoping that your going-out-of-business sale will add to your nest egg — with minimal complications. That’s exactly what Doug and Jacki Friedrich, fourth-generation owners of Friedrich Jewelers Inc., of Vernon, Conn., experienced when they selected Wilkerson to run their sale. “Jewelers who are contemplating a sale should go with Wilkerson because of their experience,” says Doug. And with financial goals “exceeding expectations,” the couple can now focus on enjoying the next chapter of their lives. “It’s going to set us up very nicely for retirement,” says Jacki. “The money’s coming in and we have no complaints. It’s been wonderful.”

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