Independents

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Multi-location independents trimming branches

By Michelle Graff
December 03, 2008

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Due to the economic crisis, Bernie Robbins Fine Jewelers began liquidation sales at its Short Hills, N.J., location at the end of November, and aims to completely shutter the store by January.

New York--The worldwide economic meltdown is forcing some long-standing independent jewelers to close branch locations in an effort to cut costs and streamline operations.

On Wednesday, David Walker, owner of renowned Boston jeweler Shreve, Crump and Low--which has been in business since 1796--confirmed to National Jeweler that he will be shuttering the Chestnut Hill, Mass., store early next year.

He said the location's store-closing sale began on Nov. 29, with plans for a complete shutdown by February.

Shreve's other store, located on Boylston Street in Boston's Back Bay neighborhood, will remain open.

Walker said he hopes to transfer a majority of the Chestnut Hill employees to the Boston location.

The store closure is due to a combination of declining sales, rising mall rents and a desire to transform the company into a freestanding store model, he said.

In addition, longtime jewelry retailer Harvey Rovinsky confirmed to National Jeweler that he began liquidation sales at the Bernie Robbins Fine Jewelers store in Short Hills, N.J., at the end of November, with the aim of the store being completely shuttered by January.

He said the closing of the underperforming store is part of the company's overall strategy to streamline operations in a tough economy.

The economic crisis hit the store especially hard, he said, because Short Hills is a New York bedroom community where many Wall Street executives reside.

Rovinsky still operates nine other locations, including Bernie Robbins' stores in Pennsylvania as well as in New Jersey, and his latest venture, the Hearts On Fire retail store in Atlantic City, N.J.

The store is the diamond brand's first retailer owned-and-operated-location in the United States.
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Business | Economic Crisis | Economic Issues | National Economy

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