Connect with us

Headlines

Online Watch Retailer Shuts Down

mm

Published

on

The firm operated WorldofWatches.com.

Online retailer Swiss Watch International has shut down its operations, the South Florida Business Journal reports.

The company cut 129 jobs, according to a WARN filing it submitted to the state of Florida.

Swiss Watch International operated WorldofWatches.com, along with TheWatchery.com and eWatches.com.

The company said in the WARN filing that it had operated under a forbearance agreement since July 2016. Under that arrangement, “Swiss Watch’s lenders allowed the company to remain operating while we attempted to obtain additional financing and business and remain in operation as a going concern.

“Unfortunately, while the company believe that it would be successful in obtaining new financing and business, we recently learned that the company’s efforts to remain in operation have [not] been successful,” Swiss Watch International explained in the filing.

The company was founded in 1983.

Advertisement

Read more at the South Florida Business Journal

Advertisement

SPONSORED VIDEO

When There’s No Succession Plan, Call Wilkerson

Bob Wesley, owner of Robert C. Wesley Jewelers in Scottsdale, Ariz., was a third-generation jeweler. When it was time to enjoy life on the other side of the counter, he weighed his options. His lease was nearing renewal time and with no succession plan, he decided it was time to call Wilkerson. There was plenty of inventory to sell and at first, says Wesley, he thought he might try to manage a sale himself. But he’s glad he didn’t. “There’s no way I could have done this as well as Wilkerson,” he says. Wilkerson took responsibility for the entire event, with every detail — from advertising to accounting — done, dusted and managed by the Wilkerson team. “It’s the complete package,” he says of the Wilkerson method of helping jewelers to easily go on to the next phase of their lives. “There’s no way any retailer can duplicate what they’ve done.”

Promoted Headlines

Most Popular