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Department Stores Losing Jewelry Sections

Boston Store, Macy's and other department store chains around the country are losing their fine jewelry departments because the vendor is pulling out.

The departments have been operated for years by Finlay Enterprises under a lease with the department stores. Finlay, based in New York, also operates stores under the names Bailey Banks & Biddle; Carlyle; and Congress.

Finlay is having financial difficulties and has decided to get out of the department store business entirely.

Clearance sales are under way at the department stores. Chains in Wisconsin that are affected by the Finlay departure are Boston Store, Elder-Beerman, Herberger's, Younkers and Macy's.

Mary Kerr, spokeswoman for Bon-Ton Stores Inc., the parent company for Boston Store, said the company hasn't determined yet whether it will sell fine jewelry in the future.

"We're looking at different alternatives," Kerr said.


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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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