SourcingJul 06, 2026
Gemfields CEO Sean Gilbertson Steps DownAfter eight years, Gilbertson is leaving his post at the mining company, which is currently facing a slew of operational challenges.
MajorsSep 01, 2015
Liquidation sale to begin soon for 3 Romano’s stores
The Romano’s Jewelers stores in Culver City, Northridge and Downey, Calif. have closed, with a single liquidation sale slated to begin in mid-October.
Northridge, Calif.--Three Romano’s Jewelers stores have shut down in recent weeks, with inventory and fixtures from those stores expected to be sold off come October.
R.J. Financial Inc., doing business as (d/b/a) Romano’s Jewelers, filed for voluntary Chapter 11 bankruptcy protection back in January 2010. This July, a judge converted the case to an involuntary Chapter 7, where the aim is to liquidate and recover as much money as possible for creditors.
Attorney David Seror, a partner at the firm of Ezra Brutzkus Gubner LLP and the trustee appointed to R.J. Financial’s Chapter 7 case, said the three stores, located in Culver City, Northridge and Downey, Calif., all north of San Diego, have been shut down for several weeks now. (There were other Romano’s Jewelers stores that closed before the case was converted to a Chapter 7.)
All the merchandise from the Culver City and Northridge stores has been shuttled to the Downey location. Seror said the merchandise, showcases and any other fixtures will be liquidated--sold to both the public and any retailers interested in purchasing them--in an effort to raise the $58 million R.J. Financial owes to its creditors.
He said he is looking to reopen the Downey store, which is currently closed, and have the sale in mid-October.
While the case winds its way through bankruptcy court, R.J. Financial President Randy Abalkhad continues to be involved with the management of other Romano’s Jewelers stores.
Seror said there are Romano’s Jewelers stores operating that were not property of the bankruptcy estate: Diamond Trading Lakewood, which is d/b/a Romano’s Jewelers in the Lakewood Center Mall in Lakewood, Calif., and Diamond Trading Glendale, d/b/a Romano’s Jewelers in the Glendale Galleria Mall.
“Diamond Trading is not in bankruptcy,” Seror noted. “R.J. Financial is in bankruptcy.”
There is also a Romano’s Jewelers still open in San Diego County, said A. David Youssefyeh, Abalkhad’s attorney.
Meanwhile, Abalkhad faces felony identity theft and conspiracy charges for allegedly instructing two employees to obtain the personal financial information of active duty military members so Romano’s Jewelers could put unauthorized charges on their store accounts, a story first uncovered by NBC 7 San Diego.
One of the two employees, Nellie Cha Noland, pleaded guilty to the charges in May. The other, store manager Carlos Omar Torres, and Abalkhad have pleaded not guilty.
A former Marine who allegedly was bribed to aid the store in
its scheme already has been convicted in the case.
Abalkhad and Torres were slated to appear in court Tuesday. No further information on the outcome of the proceedings was available as of press time.
More on Majors
The Latest
IndependentsJul 06, 2026
Bachendorf’s To Open Fifth Store In DallasThe new location is set to open this winter, featuring the retailer’s first rotating jewelry designer residency.
CollectionsJul 06, 2026
Pandora’s New Baroque Pearl Collection Is a Whimsical ‘Wonder’One-of-a-kind pearls take the shape of ice cream cones, frogs, submarines, and other imaginative charms.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
SourcingJul 02, 2026
London Diamond Bourse Elects First Female PresidentCharlotte Rose said her election is “a sign that this is an industry capable of change.”
Weekly QuizJul 01, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Supplier BulletinJul 02, 2026
Elevating Retail Showcases with Today's Necklace & Bracelet TrendsSponsored by Rio Grande Jewelry Supply
TrendsJul 02, 2026
Oscar Heyman’s Flag Brooch Celebrates AmericaThe American jewelry house, founded by Latvian immigrants, has been creating American flag brooches since 1917.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
IndependentsJul 02, 2026
D. Geller & Son Partners with KSU Art Students on Store MuralThe artwork celebrates the Atlanta jeweler’s legacy and symbolizes its commitment to supporting local artists and its community.
Events & AwardsJul 02, 2026
Stratus Estate Buyers Offers Jewelers Turnkey Buying EventsIts team can evaluate jewelry and watches, as well as luxury handbags, artwork, and collectibles.
SurveysJul 01, 2026
Consumer Confidence Ticks Up in JuneFalling oil prices were a factor in the slight month-over-month improvement.
CollectionsJul 01, 2026
Rio Grande Launches First Finished Bridal CollectionThe new offering comprises more than 120 bridal and engagement ring styles with natural and lab-grown diamonds.
WatchesJul 01, 2026
Rolex Unveils Clock at Rockefeller CenterThe clock is part of the celebration for the soon-to-open Rolex headquarters on New York City’s Fifth Avenue.
IndependentsJul 01, 2026
Kristen Cannon of Valobra Master Jewelers Dies at 49The public relations professional is remembered for her benevolent generosity and unwavering commitment to those around her.
WatchesJun 30, 2026
Pokémon Fans Will Want to Catch This New G-Shock WatchThe new watch commemorates Pokémon’s 30th anniversary.
CollectionsJun 30, 2026
Jade Ruzzo’s New Collection Embodies the Art of Being a LadyThe “Lady” collection is a new take on old beauty standards with gemstone-adorned hair pins and combs, a compact mirror necklace, and more.
SourcingJun 30, 2026
Blue Nile Introduces Montana Sapphire CollectionThe new line is included in the e-tailer’s curation of jewelry celebrating America’s 250th anniversary.
GradingJun 30, 2026
AGS Opens 2026 Recertification ExamAll active members who earned their credential or designation before Dec. 1, 2025, are required to recertify.
CollectionsJun 29, 2026
Briony Raymond’s New Collection Is a ‘Carousel’ of Hard StonesThe new jewelry collection uses a colorful palette of onyx, malachite, tiger’s eye, mother-of-pearl, lapis, turquoise, and coral.
IndependentsJun 29, 2026
Look Inside Lee Michaels’ Revamped Mississippi FlagshipLee Michaels Fine Jewelry is celebrating 30 years in the Ridgeland, Mississippi community.
GradingJun 29, 2026
National Rarities Announces New Gemology ManagerSean Milliner has joined the company.
GradingJun 29, 2026
GIA to Open New London CampusClasses will begin in August at GIA’s new Canary Wharf location.
AuctionsJun 26, 2026
‘Hogback’ Diamond Ring Finds a New Home A ring set with “hogback” diamonds, an early stone cut dating to around the 16th century, sold for more than $20,000 at a U.K. auction.
CollectionsJun 26, 2026
Strength Is Sharpened Into Beauty in Kris Averi’s ‘Prism Thorn’ RingThe rainbow version of the ring, our Piece of the Week, features angel-cut, octahedral lab-grown sapphires designed to be worn as armor.
MajorsJun 26, 2026
Rembrandt Charms Debuts ‘Charms That Give Back’The new initiative donates a portion of the proceeds from select charms to charitable causes.
TrendsJun 26, 2026
Bernard James Celebrates Knicks’ Win with RingThe Brooklyn-based jeweler created a limited-edition version of its “Aura” eternity band, set with gemstones in the team’s colors.
SourcingJun 25, 2026
ICA Names Brandee Dallow as CEODallow will lead the International Colored Gemstone Association, effective July 6.
