Whitehall store liquidation sales to begin Wednesday; Hudson CEO sees growing trend

By Caroline Salls

Pittsburgh, Aug. 12 - Whitehall Jewelers Holdings, Inc.'s agents will launch liquidation sales at 373 Whitehall store locations in 39 states on Wednesday, according to a news release.

The 373 stores include 78 retail locations that were acquired in April from Friedman's Jewelers.

According to the release, the inventory, including a selection of diamonds, gold, precious and semi-precious jewelry and watches, will be liquidated at below market prices, and the sale is expected to last about four and a half months.

As previously reported, a joint venture of Hudson Capital Partners, LLC, Great American Group, LLC, Silverman Jeweler Consultants, Inc. and Gordon Brothers Group, LLC will manage the court-ordered liquidation sale.

"We're currently experiencing the most active period of liquidation sales in 10 years, due to a combination of consumer cutbacks on peripheral spending, tightening of retail lenders and a change in bankruptcy code," Hudson Capital president and chief executive officer James L. Schaye said in the release.

Whitehall, a Chicago-based jewelry retailer, filed for bankruptcy on June 23 in the U.S. Bankruptcy Court for the District of Delaware. Its Chapter 11 case number is 08-11261.

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