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September 5, 2008

Whitehall Jewelers to close by year's end

Another national retail chain with a local store is shutting its doors because of financial troubles. Whitehall Jewelers filed for Chapter 11 bankruptcy in June, and it’s closing its stores, including one at Valley View Mall in Roanoke.

You’ve probably seen signs for the store’s going-out-of business sale. Liquidation sales have begun at 373 Whitehall locations nationwide.

According to this story, the sales will last for four and a half months.

Also, you may find this article interesting about how new bankruptcy rules are forcing some retailers to go out of business faster. Under the old rules, some eventually emerged out of bankruptcy.
Apparently, businesses had an unlimited amount of time to file restructuring plans before 2005. Now, under the new rules, they only have 18 months. Also, retailers have 210 days to decide whether to keep a location open, compared with two years or more under the old rules.

Comments

# 1

[September 5, 2008 4:14 PM]

Carrie

Just a note Jenny, since I didn't see a blog post about it. Imagination Station at Towers' last day is today according to posted signs in the store when I was in on Tuesday. They didn't do any price reductions (I assume that the blacksburg store is absorbing leftover stock). It's a sad day for all of us to lose one of the only unique toy stores in the valley.

# 2

[September 5, 2008 6:28 PM]

Other John

That's sad to hear. My wife and I bought most of our important jewelry from them over the past 6 years, including the engagement ring, wedding bands, and watches we bought on our first anniversary. But we bought everything at the Wilmington, NC store since the folks there were super friendly and helpful, and we vacation there fairly frequently. We tried going to the store in Lynchburg a couple times for service, but they seemed rude and we didn't bother going back to them afterward. At least we didn;t pay for any extended warranties or service plans, I'm sure the folks that did are probably miffed about the closure.

# 3

[September 8, 2008 12:56 PM]

Jenny

Carrie, Thank you for the heads up about Imagination Station's closing. I went to the store and saw the closing sign this weekend. I'm trying to reach the owner to find out more details. I'll post some information soon. Thanks!

# 4

[September 8, 2008 1:41 PM]

Steve

Another jeweler bites the dust.

Isn't it time to start supporting some of the "Independent" jewelers that have faithfully served this valley for years...

Jenny - I'd like to see some data / info on the car business affecting the valley. Vinton Motors is gone, and some other smaller dealers look to be following suit.

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