RAPAPORT... USA Discounters Ltd., parent company of Fletcher’s Jewelers, filed for bankruptcy protection and plans to wind down its business, according to a report in the Wall Street Journal.
The company closed its 24 USA Living stores before filing for bankruptcy protection and is still considering its options for its seven Fletcher’s locations, according to the report. The jewelry chain's motto is: "The jewelry you want, the credit you deserve."
The chain sold jewelry and other household furniture, appliances, and electronics from stores located near U.S. domestic military bases, often financing such purchases through its own credit program. The company said in court papers it discontinued credit sales as of Monday, the date of its bankruptcy filing and is selling jewelry for cash only.
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