By Katie Davis B ack in May of last year, Ben Moss applied for creditor protection and began closing 11 under-performing stores in an effort to restructure, sighting a weak Canadian dollar and sluggish Western Canadian economy for its decreasing sales performance. Their efforts failed and this past July, the company announced it would close all of its 54 stores.
Dartmouth-based Charm Jewelry Ltd recently announced that it had acquired the rights to the Ben Moss Jewellers banner and will reopen 16 stores that were closed when Ben Moss filed for creditor protection last year.
Although the financial details of the acquisition were not disclosed, Charm Jewelry Ltd did say that it will retain more than 100 Ben Moss Jewellers employees and has plan to add an additional 75 staff as part of a grand re-opening event, which will take place in time for Valentine’s Day.
Charm Diamond Centres president Troy Calder says he’s “delighted” to be able to give the Ben Moss brand, which began in Winnipeg in 1910, a fresh start. “They have great locations, great people. We think we can turn this company around,” said Calder. In the sale, Charmacquired 16 lease assignments to Ben Moss locations along with fixtures and all intellectual property associated with the brand; however they did not purchase any remaining Ben Moss jewelry.
“We have been competitors for many years, decades,” said the Charm president. “It was disappointing to
see a Canadian legacy jeweller going under. We did want to see if we could save that legacy and help the customers and the staff.”
Charm Jewelry Ltd, will look to expand the brand with Calder saying, “We have plans of growing the Ben Moss brand in the future out West.”
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FEBRUARY 2017 • SPOTLIGHT ON BUSINESS MAGAZINE
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