March 9, 1999
Gordon Bros. Buys Town & Country Inventory
Gordon Bros., Boston, has acquired what sources call "a substantial amount" of the inventory of Town & Country Fine Jewelry Group and plans to begin selling it to retailers as soon as next Monday, March 15.
Richard Lawler, president of Gordon Bros., declined to say how much of the inventory his firm purchased, saying it's a confidential transaction. He did say the acquisition includes "diamond basics, diamond fashion jewelry, precious color -- a full spectrum of jewelry and price points."
Gordon Bros.' field sales force will begin offering the Town & Country line starting March 15. Lawler says customers can view the inventory in Boston.
Town & Country filed for Chapter 11 bankruptcy protection Nov. 17, 1997, and just two months ago laid off 75% of its work force and filed bankruptcy papers again.
- by Jack Heeger