Whitehall to be Liquidated
The hope that Whitehall Jewelers would be purchased by Gitanjali Gems LTD and continue core operations has come to an end with Gitanjali. I expect an official announcement to be made today with the high bidder at the recent auction, Gordon Brothers, assuming control of the bankrupt jeweler and liquidating the company.
Tags: bankruptcy, Gordon Brothers, liquidation, Whitehall
August 6th, 2008 at 8:57 am
anyone doing subcontracted repair work get paid? what have you been told? I got a check two weeks ago for about 20% of moneies owed but am having a hard time deciding when to cut the ties. Would like to hear from other jewelers.
dave
August 6th, 2008 at 2:10 pm
Hey Dave
Good question. Last I heard, and this was before the auction, the subcontracted repair work was “supposed” to be taken care of. Depending upon the dates of your invoices, there was a window where you would have to submit them to the court. However, given the current situation I simply don’t know. I know I have a few invoices pending. I’ll see if I can find anything out.
As far as cutting ties, that’s a decision you have to make. For me personally, I had stopped doing all the trade work a couple of years ago but that was for personal reasons. The special order work, which I continued at that time, I have stopped altogether given the situation.
Again, I’ll see if I can find anything out and wish you the best of luck and hope you’ll get your payments.
Dave
August 6th, 2008 at 6:30 pm
Hey Dave
To the best of my knowledge and understanding here’s what I’ve been able to find out…
As a contracted repair vendor, assuming that’s what you are, you are going to be treated much like that of an “employee” with your contracted invoices being paid. Please don’t take this as “gospel” or automatic and do what you you believe to to be best for your business and/or family.
Dave
August 7th, 2008 at 10:09 am
Yea I called the lawyers and was told that the courts did allow for repair vendor to be paid however I found a website that has all court dockets and the order states the they can pay but don”t have to. I have stop doing and work that requires me to order parts of any kind.
if interested the website for all dockets is:
http://chapter11.epiqsystems.com/docket/docketlist.aspx
there are over 500 dockets on over 50 pages however you can search thru all.
If i can get a 30 - 50% check of what is owed I am ready to cut the ties. Unfortunatley I am just a one person subcontractor with a family and the $2500.00 that is owed is a great income loss considering that probably 600 - 800 of that are parts that I have already paid for.
One more good check thats all I want.
dave
August 7th, 2008 at 3:50 pm
I’m familiar with that. I believe you are referring to docket #65.
It authorizes them to pay the repair vendors but does not legally “require” them to do so. More or less it’s standard legal procedure given the circumstances. If I’m not mistaken, the court cannot “order” or “require” them to pay unless you sued them for the money and won. Not much point in that IMO. Much the same if they “chose” not to pay you when they were not in bankruptcy. You’d have to file suit against them to get the courts to “require” or “order” them to pay.
As I said, to the best as I was able to find out, they fully intend to pay the repair invoices of their contracted vendors and have the courts permission to do so. They had to get permission from the court in order to do so. And to the best of my knowledge, they are doing that. At some point I’d expect them to stop contracting for repair service.
Dave