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California Jewelry Maker Vivi – Formerly Known as Cookie Lee – Files for Bankruptcy

Company listed liabilities of $1 million to $10 million in Chapter 7 filing.

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Vivi, a California direct-sales jewelry company formerly known as Cookie Lee, has filed for bankruptcy, The Orange County Register reports. The company listed assets of under $50,000 and liabilities of $1 million to $10 million in its Chapter 7 bankruptcy filing on July 8, the article says, noting that Chapter 7 usually indicates a company intends to liquidate instead of reorganize under Chapter 11.

The article explains that Cookie Lee was founded in 1992 and then sold in 2014 to Debbie Millar, who renamed the company to Vivi. On the day the company closed, Sue Neff, a Vivi sales consultant, wrote on the company’s Facebook page: “Debbie has worked very hard over the past two years to rebuild a company that had been declining for years. Unfortunately, rebuilding sometimes just doesn’t work out.”

Read more at The Orange County Register

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Thinking of Liquidating? Wilkerson’s Got You Covered

Bil Holehan, the manager of Julianna’s Fine Jewelry in Corte Madera, Calif., decided to go on to the next chapter of his life when the store’s owner and namesake told him she was set to retire. Before they left, Holehan says they decided to liquidate some of the store’s aging inventory. They chose Wilkerson for the sale. Why? “Friends had done their sales with Wilkerson and they were very satisfied,” says Holehan. He’d enthusiastically recommend Wilkerson to anyone looking to stage a liquidation or going-out-of-business sale. “There were no surprises,” he says. “They were very professional in their assessment of our store, what we could expect from the sale and they were very detailed in their projections. They were pretty much on the money.”

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