Whitehall Jewelers picks DJM Realty to manage store lease sale

By Caroline Salls

Pittsburgh, Sept. 15 - Whitehall Jewelers Holdings, Inc. has selected DJM Realty to exclusively manage the national disposition of all of its remaining U.S. retail store leases, according to a company news release.

Whitehall said the disposition project includes leases of former Friedman Jewelers and Crescent Jewelers stores, which Whitehall acquired earlier this year.

"These 355 leases that DJM Realty will be marketing range in size from 500 to 3,800 square feet," DJM senior managing director Michael Jerbich said in the release.

"The Whitehall Jewelers portfolio offers stores located in high-traffic areas at or near the 50 yard line in upscale malls throughout the country."

According to the release, the stores in question are located in Alabama, Arkansas, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Iowa, Illinois, Indiana, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, North Carolina, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, Washington, Wisconsin and West Virginia.

Whitehall is liquidating its inventory and conducting going-out-of-business sales at the stores that are expected to run through the holiday season.

DJM said it expects to auction the properties in late October.

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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