Cedar Rapids Jewelry Store May Soon Close
A popular Cedar Rapids jewelry store could be soon closing its doors. Rogers Jewelers in Lindale Mall will close it's doors at the end of February unless its parent company can find a buyer.
Rogers Jewelers is owned by Samuels Jewelers in Austin, Texas. That company filed for chapter 7 bankruptcy back in August. It listed more than $100 million in assets and liabilities. That includes $84 million owed to Wells Fargo and other banks, $10 million owed to GB Credit Partners, and $23 million in trade debt.
Samuels operates jewelry stores in 23 states and has a workforce of nearly 700 employees. Interested companies have until January 21st to submit a bid for the company. If they do receive an acceptable offer and complete the sale, some stores may remain open for business.
Rogers Jewelers also has a store located at the Jordan Creek Mall in West Des Moines. The news could be a bonus for consumers. A going out of business sale would likely start in February just in time for Valentines Day.