Diamond Jewelry Forums

Picture Gallery

Video Gallery

|

Search |

Posted Today |

Most Active |

Help

» Home »

» Diamond Prices and Grading »

» RockyTalky »

» Michael Beaudry Files for Chapter 11

Michael Beaudry Files for Chapter 11

P: 6/9/2009 5:19:46 AM
DiaGem Ideal Rock Total Posts: 3,927 Last Post: 11/21/2009 Member Since: 10/21/2004	And the tune goes on.... "Michael Beaudry Files for Chapter 11 (June 9, '09, 3:11 Edahn Golan) Los Angeles based jeweler Michael Beaudry Inc. has filled for Chapter 11 Bankruptcy protection on June 4. According to a court filing, the company has an estimated 50-99 creditors and $10 to $50 million in assets. The filing does not disclose the company’s liabilities...." ********************** >Y< Yoram F. Antique Diamond Gem http://www.diagem.net/ "When it doesn't exist, design it..." Sir Henry Royce
Posted: 6/9/2009 5:19:46 AM

There are 18 replies to this message. There are 18 replies on this page.

P: 6/9/2009 7:04:35 AM
tradergirl Ideal Rock Total Posts: 571 Last Post: 11/18/2009 Member Since: 1/26/2008	The filing does not disclose the company’s liabilities...." Yet. It has to very shortly or be dismissed. Again, I wonder why anyone pays asking price these days.
Posted: 6/9/2009 7:04:35 AM

P: 6/9/2009 9:04:34 AM
asscher_girl Ideal Rock Total Posts: 679 Last Post: 11/19/2009 Member Since: 6/29/2006	Oh no, that's awful! I met him last year, such a great talented guy. Welll.....I wonder what I can get that $15K Beaudry chain for now
Posted: 6/9/2009 9:04:34 AM

P: 6/9/2009 10:21:54 AM
arjunajane Ideal Rock Total Posts: 7,788 Last Post: 11/25/2009 Member Since: 1/18/2008	Oh no! thats sad ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ "And let today embrace the past with remembrance and the future with longing." Kahlil Gibran
Posted: 6/9/2009 10:21:54 AM

P: 6/9/2009 10:51:42 AM
mrssalvo Ideal Rock Total Posts: 16,860 Last Post: 11/24/2009 Member Since: 1/3/2005	that is sad b/c he's such and amazing designer. I hope they can restructure and come out okay. ----------------------------- A deal is only a deal if you are getting exactly what you want.
Posted: 6/9/2009 10:51:42 AM

P: 6/9/2009 11:00:22 AM
denverappraiser Ideal Rock Total Posts: 4,618 Last Post: 11/25/2009 Member Since: 7/21/2004	Date: 6/9/2009 7:04:35 AM Author: tradergirl Again, I wonder why anyone pays asking price these days. Apparently not enough are. Here's another one for Penny Previll. Neil Beaty GG(GIA) ICGA(AGS) NAJA Professional Appraisals in Denver Here's another one. There's never a crowd when you go that extra mile.
Posted: 6/9/2009 11:00:22 AM

P: 6/9/2009 11:11:28 AM
tigian Ideal Rock Total Posts: 1,386 Last Post: 11/24/2009 Member Since: 2/25/2009	so sad and depressing that these talented designers are going under.
Posted: 6/9/2009 11:11:28 AM

P: 6/9/2009 11:27:41 AM
tradergirl Ideal Rock Total Posts: 571 Last Post: 11/18/2009 Member Since: 1/26/2008	There's a seller on Ebay liquidating a pretty good chunk of Leslie Greene inventory (I think she partnered with P Preville but it's definitely the same style). Goofy asking prices. I have some one my watch list waiting for the inevitable give-up. Here's an example. I offered $750 for these. No response. Yet. LOL http://cgi.ebay.com/Leslie-Greene-18K-Pink-Gold-Diamond-Earrings-50-OFF_W0QQitemZ260381314519QQcmdZViewItemQQptZLH_DefaultDomain_0?hash=item3c9fef8dd7&_trksid=p3286.c0.m14&_trkparms=65%3A12%7C66%3A2%7C39%3A1%7C72%3A1326%7C240%3A1318%7C301%3A0%7C293%3A1%7C294%3A50
Posted: 6/9/2009 11:27:41 AM

P: 6/9/2009 11:49:17 AM
denverappraiser Ideal Rock Total Posts: 4,618 Last Post: 11/25/2009 Member Since: 7/21/2004	The Preville auction seems to be hoping to recover 36% of the manufacturers cost from the inventory. That’s a far cry from 50% of MSRP. Whoever buys it will, of course, be hoping to sell it for more but I see a fair amount of room here. Beaudry isn't in liquidation and hopefully they'll be able to work something out with their creditors that pays off a little better than that. There are few winners and lots of losers if they can't work out a deal. Neil Beaty GG(GIA) ICGA(AGS) NAJA Professional Appraisals in Denver There's never a crowd when you go that extra mile.
Posted: 6/9/2009 11:49:17 AM

P: 6/9/2009 11:53:50 AM
TravelingGal Ideal Rock Total Posts: 11,346 Last Post: 11/25/2009 Member Since: 12/29/2004	That's too bad. And they just opened that store in Beverly Hills late last year. It's OTT in terms of details. But I love my MB piece! _______________________ Travel quote of the week: "Twenty years from now you will be more disappointed by the things you didn't do than by the ones you did do. So throw off the bowlines, sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover." -Mark Twain
Posted: 6/9/2009 11:53:50 AM

P: 6/9/2009 12:21:37 PM
HeartingDiamonds Ideal Rock Total Posts: 532 Last Post: 11/17/2009 Member Since: 12/12/2007	What a shame. Michael Beaudry is a talented designer and jeweler. I, too, hope that the filing gives them what they need to bounce back and carry on. Grace Jewels by Erica Grace
Posted: 6/9/2009 12:21:37 PM

P: 6/9/2009 1:34:42 PM
Modified Brilliant Ideal Rock Total Posts: 1,148 Last Post: 11/21/2009 Member Since: 3/24/2005	These are sad times for very talented people in our industry. I was most surprised with Doris Panos filing a few months ago. But every time another name pops up..it's newsworthy. www.metrojewelryappraisers.com Jeff Averbook, G.G. Graduate Gemologist since 1986. Member NAJA. Life Member AIN.
Posted: 6/9/2009 1:34:42 PM

P: 6/9/2009 2:18:33 PM
tradergirl Ideal Rock Total Posts: 571 Last Post: 11/18/2009 Member Since: 1/26/2008	It is sad in a way but you have to wonder why people didn't squirrel away the cash while the getting was good. It's not just jewelry designers though - seeing this same thing throughout the RE business too - realtors, tradespeople, etc. If they couldn't or wouldn't save during those boom times, heaven help them now.
Posted: 6/9/2009 2:18:33 PM

P: 6/16/2009 8:51:16 PM
isaku5 Ideal Rock Total Posts: 2,283 Last Post: 11/23/2009 Member Since: 8/15/2005	I just saw the bad news, and am beyond sorry. I'm 99% sure it was fallout from the current recession, but, nevertheless, it's a crying shame. Here's hoping he can restructure and move forward.
Posted: 6/16/2009 8:51:16 PM

P: 6/16/2009 9:47:27 PM
diamanda Rough Rock Total Posts: 31 Last Post: 11/9/2009 Member Since: 6/11/2009	Is Harry Winston still doing okay?
Posted: 6/16/2009 9:47:27 PM

P: 6/16/2009 9:56:30 PM
Kaleigh Ideal Rock Total Posts: 25,920 Last Post: 11/24/2009 Member Since: 11/18/2004	Sad news indeed. He's such a talented designer... The list grows and grows. ____________________________ Piece of cake and a candle. ng gift
Posted: 6/16/2009 9:56:30 PM

P: 6/16/2009 10:02:02 PM
Moh 10 Ideal Rock Total Posts: 1,004 Last Post: 8/18/2009 Member Since: 10/25/2008	Very sad. Does a manufacturer have to mail back all the customer's diamonds that they were holding while making custom jewelry? Or are those considered assets that will be distributed by the court? And for those of us about to ship stones to get set how can we research how financially healthy OUR jeweler is?
Posted: 6/16/2009 10:02:02 PM

P: 6/16/2009 11:43:09 PM
Richard Sherwood Ideal Rock Total Posts: 4,879 Last Post: 11/23/2009 Member Since: 9/25/2002	Date: 6/16/2009 10:02:02 PM Author: Moh 10 Very sad. Does a manufacturer have to mail back all the customer's diamonds that they were holding while making custom jewelry? Or are those considered assets that will be distributed by the court? And for those of us about to ship stones to get set how can we research how financially healthy OUR jeweler is? First, Michael Beaudry filed chapter 11, which is a reorganization of assets, not a liquidation. It allows them time to get back on their feet and profitable again. What often happens in an economy like this is that large designer/manufacturer's like Michael Beaudry have extended credit to their large retail jewelry clients, who are then not able to pay. This creates an undeniable financial pressure which has to be dealt with. Chapter 11 is one way to alleviate the pressure, and allow a company with a good track record to get on their feet again. Second, customer's diamonds are not comingled with company assets. They are a separate entity, and handled as such. The company will continue doing business as normal, completing customer orders and returning them as normal. Rich, Independent GG Appraiser Sarasota Gemological Laboratory
Posted: 6/16/2009 11:43:09 PM

P: 6/16/2009 11:50:47 PM
Kaleigh Ideal Rock Total Posts: 25,920 Last Post: 11/24/2009 Member Since: 11/18/2004	Date: 6/16/2009 11:43:09 PM Author: Richard Sherwood Date: 6/16/2009 10:02:02 PM Author: Moh 10 Very sad. Does a manufacturer have to mail back all the customer's diamonds that they were holding while making custom jewelry? Or are those considered assets that will be distributed by the court? And for those of us about to ship stones to get set how can we research how financially healthy OUR jeweler is? First, Michael Beaudry filed chapter 11, which is a reorganization of assets, not a liquidation. It allows them time to get back on their feet and profitable again. What often happens in an economy like this is that large designer/manufacturer's like Michael Beaudry have extended credit to their large retail jewelry clients, who are then not able to pay. This creates an undeniable financial pressure which has to be dealt with. Chapter 11 is one way to alleviate the pressure, and allow a company with a good track record to get on their feet again. Second, customer's diamonds are not comingled with company assets. They are a separate entity, and handled as such. The company will continue doing business as normal, completing customer orders and returning them as normal. Thanks Richard. ____________________________ Piece of cake and a candle. ng gift
Posted: 6/16/2009 11:50:47 PM

Previous Page

Next Page

« Need ring advice «

» Anybody familiar with this laser inscription? »

Jump to:

Contact Us \| Back Home \| Privacy Statement \| Forum Agreement \| Forum Policies
Ideal BB Version: 0.1.5.4.beta1	Message forum software powered by the Ideal BB

Pricescope - Knowledge - Diamond Prices - Tools - Resources - About

© 2000-2009 Pricescope. Terms of Use Privacy Policy Disclaimer
forum archives