Headlines

Why This 131-Year-Old Jewelry Shop Is Closing After Its Best Year in a Decade

Published

8 years ago

April 20, 2016

INSTORE Staff

In a Minnesota family for four generations, the store is
nicknamed the “Tiffany’s” of its hometown.

Even though it just recorded its best year in a decade, the Bagley & Co. jewelry store in Duluth, MN will close after 131 years in business, the West Central Tribune reports. Owner Rich Heimbach spoke with the news outlet and cited several factors that contributed to his decision, including the lack of a successor and the looming three-year construction project of the street where the shop is located.

“I feel letting go and accepting is the best thing for the store and for all of us,” he says of his decision to retire. “At my age, do I have the ability and energy to survive this construction period for three-plus years? I don’t. I don’t feel I have the energy and ability to carry this out and come out of it in five years.”

The store – nicknamed the “Tiffany’s of Duluth” – will close by June if a buyer isn’t found before then, the article adds.

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.”