Bye-Bye Bailey Banks & Biddle

Mrs. Talk is not going to be happy about this development. Both of Mr. Talk's favorite jewelry emporiums have now become casualties of the downturn.

Oh well, there's always flowers.

From the Wash Business Journal:

Bailey Banks & Biddle jewelry stores are targeted for shut down as part of the bankruptcy that has claimed jewelry chain Finlay Enterprises Inc.

There are five stores in the D.C. area at Westfield Montgomery, Tysons Corner Center and The Fashion Center at Pentagon City, Fair Oaks and The Mall in Columbia.

Finlay filed for Chapter 11 bankruptcy protection on Aug. 5.

According to Bloomberg and the jewelry trade publication National Jeweler, liquidation firm Gordon Bros. Retail Partners LLC emerged as the highest bidder in Wednesday's auction for the assets of Finlay Enterprises (OTC BB: FNLY). National Jeweler says "Gordon Bros. entered an 85.75 percent equity bid on asset inventory, estimated at $116 million on the closing date, for the company's 49 "ongoing" stores. This means that Gordon Bros. is guaranteeing that store-closing sales will generate at least 85.75 percent of the aggregate cost value of the merchandise."