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Jeweler Shane Co. Files for Ch. 11

Law360 (January 13, 2009, 12:00 AM EST) -- Diamond retailer Shane Co. has filed for Chapter 11 bankruptcy protection after a dismal holiday sales season put pressure on the company's cash flow.

The company, one of the 10 largest retail jewelers in the United States, filed a petition in the U.S. Bankruptcy Court for the District of Colorado on Monday, listing assets and liabilities between $100 million and $500 million.

The family-owned company was founded in 1971 by the company's current chief executive, Thomas Shane, and all stock in the company is owned by...
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