Large Retailers Which Have Filed For Bankruptcy
Samuels Jewelers Inc.
Samuels Jewelers Inc. is a popular jewelry chain founded in Austin, Texas back in 1891. It was formerly known as Barrys Jewelers, Inc. before it changed its name in 1992. Aside from its hundreds of stores nationwide, Samuels Jewelers has also had a significant e-commerce presence for several years now where they sell fine gems like diamonds and jewelry pieces like engagement rings, cufflinks, earrings, and more.
In 2006, it was acquired as a subsidiary of Gitanjali Gems Ltd. helmed by Indian jewels Moghul Mehul Choksi. Unfortunately, he was charged with bank fraud. In August 2018, Samuels Jewelers filed for bankruptcy and are selling off inventory and assets to pay off $100 million in debt.
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