CrimeFeb 06, 2026
Florida Man Sentenced After Selling Fake Native American Jewelry for a Decade Prosecutors say the man attended arts and craft fairs claiming he was a third-generation jeweler who was a member of the Pueblo tribe.
MajorsJul 14, 2015
Economy, competition led to the end for Maine chain
The attorney who handled the bankruptcy filing for G.M. Pollack & Sons discusses the myriad factors that forced this 60-year-old jewelry business to liquidate.
This file photo shows one of the 12 G.M. Pollack & Sons locations. Founded in 1955, the chain filed for Chapter 7 bankruptcy Saturday night and will liquidate its assets.
South Portland, Maine--G.M. Pollack & Sons, an employee-owned chain of 12 stores in Maine, is no more.
On Saturday evening, the last of the chain’s stores in operation, the South Portland location, shut its doors. Shortly afterward, The Pollack Corp. filed for Chapter 7 bankruptcy in U.S. Bankruptcy Court for the District of Maine.
Chapter 7 means the business is being liquidated; there will be no reorganizing and emerging from bankruptcy, as with Chapter 11.
“The stores were on the decline over time,” said Steven Cope, the Portland, Maine, attorney who handled the filing for G.M. Pollack. “The decision was made that there was not enough of a business to rehabilitate. The option at that point was to liquidate.”
He said the chain never really recovered from the economic crisis, not unlike the many other specialty jewelers that have been shutting down recently.
Factors that led to the chain’s demise include the shrinking middle class, the still-sputtering economy and increased competition for consumers’ limited dollars.
Jewelers are not only in competition with each other anymore but also with luxury experiences, such as exotic trips, expensive food and wine and entertainment, and may find that consumers are not as “excited” about spending on jewelry, Cope observed.
Court papers show that G.M. Pollack, a 60-year-old jewelry business, has assets worth an estimated $500,000 to $1 million but owes between $1 million and $10 million to as many as 999 creditors.
Cope said another Portland attorney, Anthony Manhart, has been appointed the trustee in the case.
He said the creditors in the case have been notified of the bankruptcy by mail. Manhart will be contacting them regarding consignment merchandise as well as the distribution of funds once the chain’s assets have been liquidated.
Manhart also is handling the return of any jewelry consumers had in for repair or on layaway and the sale of the store’s intellectual property, including its name.
Gerald M. Pollack, who got his start as a sales clerk at a Roger’s Jewelers stores in Boston, opened G.M. Pollack & Sons in 1955 when he moved from Boston to Maine with his wife, Perle.
He died in 1999, and his son Stan took over the business, which eventually grew to a total of 11 stores in Maine and one in Newington, N.H.
The last time National Jeweler published its State of the Majors report, in 2012, G.M. Pollack ranked No. 37 on the list of the Top 50 North American retail chains, tied with Robbins Brothers.
Stan retired in 2008 and sold G.M. Pollack & Sons to its employees, making it the first employee-owned jewelry store chain in Maine.
Pollack, who is reported to be 76, retired and living in South Portland, could not be reached for comment on the chain’s closing Tuesday.
Editors' Picks
Sponsored by
More on Majors
The Latest
FinancialsFeb 06, 2026
Pandora’s North America GM Departs Amid Executive ChangesNew CEO Berta de Pablos-Barbier shared her priorities for the Danish jewelry company this year as part of its fourth-quarter results.
TrendsFeb 06, 2026
Margot Robbie, Jacob Elordi Wear Matching Cece Jewellery Signet RingsOur Piece of the Week picks are these bespoke rings the “Wuthering Heights” stars have been spotted wearing during the film’s press tour.
Brought to you by
The MJSA Mentor & Apprenticeship Program: Attracting & Training the Next Generation of Bench JewelersLaunched in 2023, the program will help the passing of knowledge between generations and alleviate the shortage of bench jewelers.
SourcingFeb 05, 2026
De Beers Lowers Production Guidance for 2026, Anglo Mulls Another WritedownIt would be the third impairment charge in three years on De Beers Group, which continues to grapple with a “challenging” diamond market.
Weekly QuizFeb 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsFeb 05, 2026
Borsheims to Undergo Massive Renovation in the Spring The Omaha jewelry store’s multi-million-dollar renovation is scheduled to begin in mid-May and take about six months.
CollectionsFeb 05, 2026
Marco Bicego’s Amethyst Collection Travels to a Purple ParadiseThe “Paradise Amethyst” collection focuses on amethyst, pink tourmaline, garnet, and 18-karat yellow gold beads.
Brought to you by
How Jewelers Can Fight Back Against Cell JammersCriminals are using cell jammers to disable alarms, but new technology like JamAlert™ can stop them.
FinancialsFeb 05, 2026
Watches of Switzerland Reports Strong Holiday Results in Q3The retailer credited its Roberto Coin campaign, in part, for boosting its North America sales.
ColumnistsFeb 04, 2026
January Jewelry Sales: More Dollars Spent, Fewer Units Sold Sherry Smith unpacks independent retailers’ January performance and gives tips for navigating the slow-growth year ahead.
TrendsFeb 04, 2026
Amanda’s Style File: February Birthstone BlissAmethyst, the birthstone for February, is a gemstone to watch this year with its rich purple hue and affordable price point.
MajorsFeb 04, 2026
Marco Bicego Names New Global Marketing DirectorThe Italian jewelry company appointed Matteo Cuelli to the newly created role.
MajorsFeb 04, 2026
Frederick Goldman Updates Leadership TeamThe manufacturer said the changes are designed to improve speed, reliability, innovation, and service.
Policies & IssuesFeb 03, 2026
Tariff Relief on Horizon for India as Trump, Modi Make DealPresident Trump said he has reached a trade deal with India, which, when made official, will bring relief to the country’s diamond industry.
CollectionsFeb 03, 2026
Jade Trau Releases New Charms, Introduces RondellesThe designer’s latest collection takes inspiration from her classic designs, reimagining the motifs in new forms.
WatchesFeb 03, 2026
Casio America Calls Jersey City HomeThe watchmaker moved its U.S. headquarters to a space it said fosters creativity and forward-thinking solutions in Jersey City, New Jersey.
SourcingFeb 03, 2026
Nivoda Reveals Upgraded Gemstone MarketplaceThe company also announced a new partnership with GemGuide and the pending launch of an education-focused membership program.
GradingFeb 02, 2026
IGI to Acquire American Gemological Laboratories IGI is buying the colored gemstone grading laboratory through IGI USA, and AGL will continue to operate as its own brand.
CrimeFeb 02, 2026
Ylang 23’s Dallas Store BurglarizedThe Texas jeweler said its team is “incredibly resilient” and thanked its community for showing support.
EditorsFeb 02, 2026
Stars Choose Chokers, Elongated Earrings at 2026 GrammysFrom cool-toned metal to ring stacks, Associate Editor Natalie Francisco highlights the jewelry trends she spotted at the Grammy Awards.
CollectionsFeb 02, 2026
2026 Winter Olympic Medal Design Symbolizes UnityThe medals feature a split-texture design highlighting the fact that the 2026 Olympics are taking place in two different cities.
SurveysJan 30, 2026
These Are the Top Brands of 2026, Says YouGovFrom tech platforms to candy companies, here’s how some of the highest-ranking brands earned their spot on the list.
CollectionsJan 30, 2026
Follow the Beat With Etiq’s ‘Khol’ RingThe “Khol” ring, our Piece of the Week, transforms the traditional Indian Khol drum into playful jewelry through hand-carved lapis.
MajorsJan 30, 2026
Arch Crown’s 2026 ‘Tag & Label’ Catalog Is HereThe catalog includes more than 100 styles of stock, pre-printed, and custom tags and labels, as well as bar code technology products.
CollectionsJan 29, 2026
Ghirardelli’s ‘Chocolocket’ Returns for Valentine’s DayThe chocolatier is bringing back its chocolate-inspired locket, offering sets of two to celebrate “perfect pairs.”
AuctionsJan 29, 2026
These Were Bonhams’ Top 10 Jewelry Lots in 2025The top lot of the year was a 1930s Cartier tiara owned by Nancy, Viscountess Astor, which sold for $1.2 million in London last summer.
SourcingJan 29, 2026
Stuller Website to Mark AGTA-Sourced GemstonesAny gemstones on Stuller.com that were sourced by an AGTA vendor member will now bear the association’s logo.
