- Posts: 39761
- Joined: December 16th 2009, 11:00pm
- Location: Oregon, Thanks for visiting! Now go back home!
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.
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.@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
“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
“Your heart was warm and happy
With the lilt of Irish laughter
Every day and in every way
Now forever and ever after."