Is the Shane Company going out of business? We were again asked that question last week by one of our readers looking to find a deal from the largest family owned diamond retailer in the country. The answer, as far as we can tell, is no.
Shane Co has had its issues financially, declaring Chapter 11 Bankruptcy on January 12 2009. But it’s important to remember, that was less than four months after Lehman Brothers itself declared bankruptcy, and it was at the height of the Global Financial Crisis. The stock market had plunged to about half its peak point of 14,000 just 16 months earlier. So no one was in the mood to spend money on anything.
So if you’re looking for a deal from the Shane Company going out of business sale, you’ll have to wait a while longer; however, if you’re looking to get 60% off the retail price of a diamond try James Allen Diamonds. James Allen is our highest rated online diamond dealer in our online diamond store reviews, and was rated A+ by the Better Business Bureau at the time of the writing of this article (Shane Co was rated B+).