The Shane Company
Encyclopedia
Shane Company or Shane Co. is the largest privately owned jeweler
in the United States. The company is a direct diamond, ruby, and sapphire importer that operates twenty retail stores across the United States and their website ShaneCo.com. The company was founded in 1971, and is based in Centennial, Colorado
.
The company promotes their retail locations and website through radio commercials that prominently feature the company’s founder, and CEO, Tom Shane and the tagline "Now you have a friend in the diamond business."
in 1970 with a degree in business administration. In 1971 he founded Shane Company, although his family has been in the jewelry business since The Great Depression. His grandfather, Charles Shane, launched the family into the jewelry business in 1929 when he purchased his first jewelry store in Cleveland, OH. Richard Shane, Tom Shane's father, joined his father and brother, Claude Shane, in the business after World War II
. Several years afterward, Richard and Claude split their business interests into two large jewelry chains in the Midwest. Throughout the following decades, Tom Shane grew Shane Co. from a one-store-operation into a jewelry store chain with twenty locations in thirteen states.
on January 12, 2009 and closed three locations in Orlando, Florida
; Morrow, Georgia
; and Tukwila, Washington
February 15, 2009.
On August 11, 2010, Shane Co. filed a Plan of Reorganization to repay 100% of all debts, placing debts to Tom Shane as the lowest priority. The bankruptcy judge called it "the ideal Chapter 11". On December 21, 2010, Shane Co. emerged from Chapter 11 bankruptcy protection.
Jewellery
Jewellery or jewelry is a form of personal adornment, such as brooches, rings, necklaces, earrings, and bracelets.With some exceptions, such as medical alert bracelets or military dog tags, jewellery normally differs from other items of personal adornment in that it has no other purpose than to...
in the United States. The company is a direct diamond, ruby, and sapphire importer that operates twenty retail stores across the United States and their website ShaneCo.com. The company was founded in 1971, and is based in Centennial, Colorado
Centennial, Colorado
The city of Centennial is a Home Rule City located in Arapahoe County, Colorado, United States, and part of the Denver-Aurora metropolitan area. The city was to have a total population of 100,377 in 2010 census. Centennial is the tenth-most populous municipality in the state of Colorado and its...
.
The company promotes their retail locations and website through radio commercials that prominently feature the company’s founder, and CEO, Tom Shane and the tagline "Now you have a friend in the diamond business."
History
Tom Shane graduated from the University of ColoradoUniversity of Colorado
The University of Colorado system is a system of public universities in Colorado consisting of three universities in four campuses: University of Colorado Boulder, University of Colorado Colorado Springs, and University of Colorado Denver in downtown Denver and at the Anschutz Medical Campus in...
in 1970 with a degree in business administration. In 1971 he founded Shane Company, although his family has been in the jewelry business since The Great Depression. His grandfather, Charles Shane, launched the family into the jewelry business in 1929 when he purchased his first jewelry store in Cleveland, OH. Richard Shane, Tom Shane's father, joined his father and brother, Claude Shane, in the business after World War II
World War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
. Several years afterward, Richard and Claude split their business interests into two large jewelry chains in the Midwest. Throughout the following decades, Tom Shane grew Shane Co. from a one-store-operation into a jewelry store chain with twenty locations in thirteen states.
Bankruptcy
Shane Company filed for Chapter 11 bankruptcyBankruptcy
Bankruptcy is a legal status of an insolvent person or an organisation, that is, one that cannot repay the debts owed to creditors. In most jurisdictions bankruptcy is imposed by a court order, often initiated by the debtor....
on January 12, 2009 and closed three locations in Orlando, Florida
Orlando, Florida
Orlando is a city in the central region of the U.S. state of Florida. It is the county seat of Orange County, and the center of the Greater Orlando metropolitan area. According to the 2010 US Census, the city had a population of 238,300, making Orlando the 79th largest city in the United States...
; Morrow, Georgia
Morrow, Georgia
Morrow is a city in Clayton County, Georgia, United States. The population was 4,882 at the 2000 census. It is the home of Clayton State University.-Geography:Morrow is located at ....
; and Tukwila, Washington
Tukwila, Washington
Tukwila is a city in King County, Washington, United States. The northern edge of Tukwila borders the city of Seattle. The population was 19,107 at the 2010 census.-History:...
February 15, 2009.
On August 11, 2010, Shane Co. filed a Plan of Reorganization to repay 100% of all debts, placing debts to Tom Shane as the lowest priority. The bankruptcy judge called it "the ideal Chapter 11". On December 21, 2010, Shane Co. emerged from Chapter 11 bankruptcy protection.