Local firm to liquidate Friedman Jewelers

Immediate release [ April 16, 2008 ]

Charleston – Friedman’s Inc, which operated 455 retail jewelry stores under the Friedman’s and Crescent brands, will conduct a court-ordered bankruptcy liquidation sale beginning immediately. The sale was ordered by the bankruptcy court as a result of Friedman’s Chapter 11 filing earlier this year.

Silverman Consultants, a local liquidation firm which specializes in turning excess inventory into immediate cash through strategic retail store closings and liquidations, was selected along with two other leading liquidation firms, Great American Group, LLC and Hudson Capital Partners, LLC to liquidate 377 Friedman and Crescent store locations in 23 states. The liquidation will include local stores in Charleston, North Charleston, Summerville, Moncks Corner and Walterboro.

Inventory valued at approximately $400 million will be liquidated at below market prices in a sale that is expected to last approximately 10-12 weeks. Merchandise to be sold will include women’s and me’’s fine and fashion jewelry, featuring diamonds, precious gems, gold and silver, as well as a wide selection of watches.

Bob Epstein, CEO of Jewelry Advisors Group, stated, “This is a tremendous opportunity for everyone to take advantage of truly compelling discounts on a huge selection of fine jewelry. All merchandise will be marked down to sell fast.”

“Over the course of its 88 year history, Friedman’s has built up a tremendous reputation. The sale will offer unique opportunities to acquire quality jewelry at exceptional values,” added John Jones, Silverman’s Chief Operating Officer.