CollectionsApr 03, 2026
Taylor Swift’s ‘Elizabeth Taylor’ Video Puts Jewelry Front and CenterIconic pieces, like the Mike Todd Diamond Tiara, appear in the superstar’s new music video for her song inspired by the actress.
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.
The Latest
Events & AwardsApr 03, 2026
JCK Luxury, NouvelleBox Partner on New Designer BallroomThe NouvelleBox ballroom will feature independent jewelry designers, including Lene Vibe, Wyld Box Jewelry, and Kiaia Limited.
CollectionsApr 03, 2026
Buddha Mama Brings Its ‘Moon’ Locket To DallasThe one-of-a-kind locket, our Piece of the Week, opens to reveal three hidden images to keep close to your heart.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
TrendsApr 02, 2026
Michelle Yeoh Fronts New Mikimoto Campaign The campaign is a tribute to the year 1893, when Kokichi Mikimoto created the world’s first cultured pearl.
Weekly QuizApr 02, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
GradingApr 02, 2026
GIA Debuts New Campus in TaiwanIt is the only GIA school to offer the GIA Graduate Gemologist program in Chinese.
MajorsApr 02, 2026
DCA Launches ‘Second Spark’ Workforce InitiativeThe initiative connects veterans and parents returning to the workforce with careers in jewelry retail.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
MajorsApr 02, 2026
Hoover & Strong Names New National Sales RepresentativeThe wholesale manufacturer and precious metals refiner has appointed Michael Angelo as its new national sales representative.
MajorsApr 01, 2026
Foundrae Sues Pandora for Allegedly Copying Its Medallion DesignsFoundrae also accused the jewelry giant of copying its mood board style of marketing.
AuctionsApr 01, 2026
John Jacob Astor IV’s Titanic Pocket Watch Heads to AuctionA Patek Philippe for Tiffany & Co. timepiece owned by the American businessman who died on the Titanic will be offered at Freeman's Chicago.
SurveysApr 01, 2026
Consumers’ Outlook Improves Again in MarchThe Conference Board’s Consumer Confidence Index edged up, with optimism about the present outweighing worries about the future.
IndependentsApr 01, 2026
Zachary’s Jewelers’ Constance Polamalu to Release Children’s BookThe retailer’s Zach Bear gift comes to life in “Zach Bear and the Window Necklace,” which centers on curiosity, bravery, and helping.
Events & AwardsApr 01, 2026
AGA Opens 2026 Gemological Scholarship, Research Grant ApplicationsApplications are open for the AGA Gemological Scholarship Program through May 15, and until June 2027 for the Gemological Research Grant.
ColumnistsMar 31, 2026
Q1 Clues That Reveal Where Your Jewelry Store’s Sales Are Heading These customer behavior patterns say a lot about how successful your jewelry store is going to be this year, Emmanuel Raheb writes.
CollectionsMar 31, 2026
Mejuri Adds Silver to ‘Puzzle’ CollectionMejuri’s popular collection of 18-karat yellow gold vermeil rings debuted in sterling silver alongside new “Puzzle” slider charms.
CollectionsMar 31, 2026
Buddha Mama, Ashley Longshore to Host Pop-Up in DallasThe Miami-based jewelry brand and the NYC-based artist will be in Dallas from April 9-11.
SourcingMar 31, 2026
NDC Designates April 8 as 'World Diamond Day'The initiative invites those in the industry to share stories on social media highlighting the meaning and impact of natural diamonds.
SourcingMar 31, 2026
GIA VP Jillian Wolk to Take Over at Tracr Wolk’s first day on the job as CEO of Tracr, De Beers Group’s blockchain platform, will be May 1.
EditorsMar 30, 2026
Tom Moses Looks Back on His Decades at GIA Moses, who will leave the lab in May after nearly 50 years, discusses his start in the business, gemstones that stand out, and what’s next.
TrendsMar 30, 2026
Oscar Heyman Debuts First Spring CatalogThe new catalog, which showcases 35 one-of-a-kind pieces of jewelry, is a compliment to the company’s popular holiday catalog.
SourcingMar 30, 2026
Rio Tinto Hauls Last Load from DiavikProduction has ceased at the Canadian diamond mine, which has yielded more than 150 million carats of rough diamonds in its 23-year run.
MajorsMar 30, 2026
Tanishq Opens First New England LocationThe store opening marks the 10th United States location for the India-based jewelry retailer.
MajorsMar 27, 2026
Saks Global Has Changed Its Mind About Closing These 3 StoresTwo Saks Fifth Avenue locations, one in Florida and one in California, and one Neiman Marcus store are off the chopping block.
IndependentsMar 27, 2026
Jimmy West, Longtime LJG Executive Director, Dies at 72West, who started in the art department at the Leading Jewelers Guild in 1979, is remembered for his patience, kindness, and dedication.
CollectionsMar 27, 2026
Itä’s ‘Yarí Whirl’ Ring Tells Every Side of the StoryIn the “Tesoro” version of the ring, our Piece of the Week, each side of the gold hexagonal nugget has a unique colored gemstone design.
WatchesMar 26, 2026
Q&A: Citizen Watch America President Jeffrey Cohen on Eco-Drive’s 50th AnniversaryCohen discusses the evolution of Citizen’s light-powered technology, the brand’s cross-generational appeal, and tariffs.
