Swiss Watch International closes - 2017

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koimaster
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Swiss Watch International closes - 2017

Post by koimaster » February 14th 2020, 10:15am

Swiss Watch International closed for business and laid off 129 employees in Miramar.

A visit to the company’s headquarters office and warehouse at 3701 Flamingo Road on Tuesday found no employees. A security guard said the company went out of business on Jan. 23.

he customer service line at Swiss Watch International and subsidiary WorldofWatches.com was closed on Tuesday.

Indianapolis watch collector Tom Bush, who has ordered dozens of pieces from Swiss Watch International over the years, said he’s been unable to contact them about an issue with his order.

A handful of customers have complained about not receiving orders from World of Watches on Twitter. The @worldofwatches Twitter account was shut down.
@worldofwatches Tried to call message said closed.Tried to access website looks to be down.Still in business?— Yes....I'm that guy (@NorcoJimmy) January 27, 2017

@worldofwatches Where is my watch ?, I have paid for it but have no news of it...— Sanjay Kohli (@skohli111) January 27, 2017

@worldofwatches I have been trying to email, call, and live chat with WoW, but can't get through any way. How can I get customer service?— Terrell L. Moody (@Terrell_L_Moody) January 24, 2017
Swiss Watch International filed a WARN notice with the state on Jan. 27 that indicated that it laid off 129 employees on Jan. 23. The WARN notice said the company surrendered its assets to its lenders.

“Since July 22, 2016, Swiss Watch has operated under a forbearance agreement,” the company wrote in the WARN notice. “Under the forbearance agreement, Swiss Watch’s lenders allowed the company to remain operating while we attempted to obtain additional financing and business and remain in operation as a going concern. Unfortunately, while the company believe that it would be successful in obtaining new financing and business, we recently learned that the company’s efforts to remain in operation have been successful.”


The company said it regretted that it could not provide its employees more advanced notice of the closure of the business because of the quick decision of its lender.

An e-retailer that also runs eWatches.com, TheWatchery.com and SmartBargains.com and sells through eBay, Swiss Watch International was founded in 1983 by Izac Ben-Shmuel, Lior Ben-Shmuel and Shlomi Ben-Shmuel. Its lines include Swiss Legeng, Lucien Piccard, Cabochon, Elini Barokas and Ben & Sons. WorldofWatches.com previously ran an internet show about its products.

In 2012, it was acquired by California-based Clearlake Capital Group in 2012. A person with knowledge of the situation said the private equity firm sold the company in the third quarter of 2016.

Officials from Clearlake Capital didn’t return a call seeking comment.

In May 2016, Swiss Watch International announced the hiring of Keith Bradley as CEO and Russell Ackner as chief marketing officer.

https://www.bizjournals.com/southflorid ... s-off.html
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Re: Swiss Watch International closes - 2017

Post by TemerityB » February 14th 2020, 3:53pm

foghorn wrote:
February 14th 2020, 11:08am
WOW is Jomas bitch now.
I had no idea until Rusty filled us on on that. I was avoiding WOW like the plague, but after learning that, I guess WOW/Joma are one in the same.
WatchGeeks will go down in watch forum history as the worst watch related site that existed. Trolls, threats, bannings, and owners and sponsors talking out of their collective asses to fleece people out of hard earned money. - Koimaster
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Re: Swiss Watch International closes - 2017

Post by conjurer » February 14th 2020, 11:42pm

Lior was always one of the least objectionable TV shills in the earlies--which is kind of like saying he was the least worst venereal disease. As Temerity has accurately said before, he sold a fifty dollar wartche for $50. One could also tell that he didn't like putting up with Jawbone's antics--much like the Motherfucking Merm, he was there to move product.

I suppose he's ended up in a good place, as all these TV mooks always seem to do.
My little brain can't even comprehend how deep that is.

--beefsupreme, commenting on his super rare Deep Blue wartche

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Re: Swiss Watch International closes - 2017

Post by TemerityB » February 15th 2020, 8:30am

conjurer wrote:
February 14th 2020, 11:42pm
Lior was always one of the least objectionable TV shills in the earlies--which is kind of like saying he was the least worst venereal disease. As Temerity has accurately said before, he sold a fifty dollar wartche for $50. One could also tell that he didn't like putting up with Jawbone's antics--much like the Motherfucking Merm, he was there to move product.

I suppose he's ended up in a good place, as all these TV mooks always seem to do.
I mean, Swiss Legend was Swiss Legend - as so many people commented, the brand wasn't really Swiss, nor legendary - but their El Cheapo sports watches, at least, ran and weren't overpriced, and weren't sold with the kind of insidious, outlandish claims (magic MOP, "rare" meteorite, tale tales of Russian Navys) that Lalo used and continues to use to this day. SL wasn't nearly the rip off that Invicta was and continues to be.

Since the end of WOW, I've noticed something so freakin' odd - remainders, years old now, from the SWI brands (Swiss Legend, Lucien Piccard, a few others) are now selling for far more on the gray sites than they did when they were being shilled on TV (collector's items? I'd think not). And since Stuhrling Original quit the TV thing? Check our their prices on Amazon - those crap pieces have just about tripled since then. None of this makes the slightest bit of sense; as bad as Invicter is, SO is that much worse.
WatchGeeks will go down in watch forum history as the worst watch related site that existed. Trolls, threats, bannings, and owners and sponsors talking out of their collective asses to fleece people out of hard earned money. - Koimaster
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