Reeds Jewelers will close its shop at MacArthur Center in Norfolk tonight.
Two local stores of another jeweler, Christian Bernard, were dark and shuttered Friday, without explanation.
Retail analysts have forecast that jewelry stores could be among the earliest wave of casualties of the recession.
The Reeds store at MacArthur on Friday featured signs saying "Everything Must Go!" and "50-70% Off." A 14- karat gold necklace, for example, was discounted from $995 to $447.
Employees said the store will close after business today but did not say why.
Jim Wofford, the general manager of the mall, said: "Their lease is up, and they decided not to renew. We have no indication why. As far as we know, their sales are good here."
Workers at Reeds' three other area stores - at Lynnhaven Mall in Virginia Beach and Greenbrier Mall and Chesapeake Square in Chesapeake - said they would remain open.
Both of Christian Bernard's local stores, at MacArthur and Lynnhaven, were shut Friday, with no signs explaining the closing.
Wofford said he was not aware that Christian Bernard was leaving MacArthur.
John Westbrook, the general manager of Lynnhaven, was out Friday. Corporate representatives of Reeds, based in Wilmington, N.C., and Christian Bernard, based in Secaucus, N.J., could not be reached for comment.
Philip Walzer, (757) 222-3864, phil.walzer@pilotonline.com
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Get Ready for the Commercial Real Estate Bailout
2009 should see a wave of bankruptcy filings for retailers...and look for the FED and Treasury Sec. Geitner to cook up a Bailout for Commercial Real esate sector at taxpayer expense. Just adding to the many things that has pissed off Americans concerning this financial terrorism.
They can't wait...
They are closing because Fraim intends to offer them higher priced leases on Granby street and they can't wait to take advantage of lower net proceeds amongst zero parking for the employees and customers. It is just todays newest business model.