Firesale Coming to K’s Merchandise?
Rumor is that K’s Merchandise, in an effort to stave off bankruptcy, is paying their vendors 50 cents on the dollar for debt that is owed. The thought behind this and the reason vendors are approving is that the other option is that if they do declare bankruptcy, their vendors will get pennies on the dollar instead… and only after years of prolonged court proceedings.
I also overheard a manager at the K’s on Pioneer Parkway talking about the Peoria store closing. I can’t verify if this is actually going to happen, but I’m sure corporate is intensely analyzing every one of their store’s sales and profit margins in the hopes of staying alive in a tough retail market.
Anyone who has bought jewelry and has paid for their lifetime of polishing and cleaning (and actually uses it) better hope they survive; otherwise your contract isn’t worth the paper it was printed on.
June 2nd, 2006 at 12:04 pm
wait … people actually PAY to get their jewelry cleaned? They don’t just ask the nice people at the jewelry store (whether mall or family-owned) to do it? Usually they OFFER to clean whatever you’re wearing for you when you pop in to browse!
I do like K’s merchandise, though, even though I’ve only been there like twice.
June 2nd, 2006 at 4:44 pm
A few years back I bought some jewelry for my wife at K’s with their never-ending half off sale. She always asks for jewelry, and being the typical man that I am, I helplessly took my kids and made them pick it out.
All I remember is a bunch of blabber about coming back in such and such amount of months for a cleaning, and I swear she tried to sell me some sort of warrantee package. Whenever the extended warrentee sales pitch comes up, it’s time for me to leave!
June 2nd, 2006 at 9:50 pm
Awww. My dad always took me along to pick out mom’s jewelry too!
It gave me expensive taste young, though.