Lawyer: We Are Working to Put the Company Back Together
Alpha Omega stores remained closed today, four shopping days before Christmas. At the Natick store, posted signs read ‘Closed for Inventory,’ but stores at other locations displayed nothing but darkness. Shoppers peering into the Harvard Square location reported empty display cases.
Bankruptcy attorney Richard E. Mikels of Boston firm Mintz Levin Cohn Ferris Glovsky and Popeo—who told Bostonista he was retained by the company three weeks ago—could not comment on when, or if, stores might reopen, what has happened to items left in Alpha Omega’s possession for repairs, or whether or not customers will ever get those items back. Mikels added that he expected Raman Handa to return to the U.S. “within a few weeks.”
“We are working extremely hard to put Humpty Dumpty back together,” he said. “Right now, the bank is in possession of the assets, and the company has no employees. We are in negotiations with the bank to reopen the stores. It’s not good for anyone—not the bank, not the stores, not the employees—to have these stores closed four days before Christmas. Whatever’s going to happen later, this is not a time for a retail store to be closed.”
Negotiations with LaSalle Business Credit, an arm of Bank of America Corporation, have been “extremely cooperative,” said Mikels, but that the company would need additional funding in order to reopen. “If we can reopen the company, [Alpha Omega] will go back to the employees and see if they can rehire them. We want to get as many jobs back as soon as we can, and take care of the customer issues.”
December 21st, 2007 at 6:46 pm
I actually refused to go back to work tomorrow, because I’m not sure that I want to be associated with what is going on with this company right now. Also, I would feel pretty silly if I went back to work for another day and then the company fell apart and I wasn’t paid. I told many customers that their watches would be sent out for repair and that they would get them back in a few weeks, and the fact that they may not get them back when I told them that they would upsets me.
December 21st, 2007 at 7:09 pm
Wow - you were asked to go back to work tomorrow? I have a credit at Alpla Omega. I wanted to use it. Are they open tomorrow?
Also, I agree though that if I were you I wouldn’t go back either. Sounds like the place is bad news all around.
December 21st, 2007 at 10:39 pm
I too recently left Rolex to be repaired.
I was wondering what legal recourse customers like myself can pursue. alpha omego doesn’t own my watch. I own it and I want it back!
December 22nd, 2007 at 12:27 am
this is b.s there should be some legal actions that should be taken. I bought something paid for it in full, and now they saying that we want get it back.. Thats wrong…thats stealing….
December 22nd, 2007 at 4:53 pm
ha ha ha guys….
December 22nd, 2007 at 11:40 pm
Dikoman…
December 23rd, 2007 at 11:09 am
The jewelry business is a very small world. This is a company that we in the “biz” have known for a while to be having issues. I think we will be seeing more and more uncovered that will be strange but expected. I feel badly for the employees and their families at this time of year. What a shame…
December 26th, 2007 at 9:39 am
happy holidays