Jeweler Shane Co. Files for Ch. 11

Law360, New York (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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.