Shane Co. Jewelry Store Files For Bankruptcy

By: Associated Press
By: Associated Press

DENVER (AP) -- Colorado-based jewelry store retailer Shane Co., has filed for Chapter 11 bankruptcy protection, saying the business had a disappointing holiday season.

The company filed paperwork Monday in U.S. Bankruptcy Court in Denver and asked to be able to continue paying its 542 employees in stores in 14 states, including two in Colorado.

The court filings show the company has between $100 million to $500 million in estimated assets and liabilities.

CEO Tom Shane said in a statement that the severity of the past holiday season "dramatically impacted existing liquidity," forcing the company to file for bankruptcy.

The company listed about 6,000 creditors. Its largest creditor was listed as New-York based Dison Gems, Inc., with about $4.7 million.

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  • by me Location: c/s on Jan 12, 2009 at 10:15 PM
    i'm sorry the business is going belly up, but i'm NOT sorry that we won't have to hear his annoying voice on his stupid radio commercials anymore! GRRRRRRRR...between tom shane and luisa graff, they drive me nots! i have to say, though, she is by far worse. good god, somebody give that woman a valium and a shot of jack daniels, ASAP!
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