Zale Sells Bailey Banks & Biddle to Finlay.

From: Jewelers Circular Keystone | Date: November 1, 2007 | Copyright information

By William George Shuster and Rob Bates

Zale Corp. has sold the 175-year-old upscale Bailey Banks & Biddle store chain, which it has owned for 45 years, to Finlay Fine Jewelry Corp. for $200 million. The purchase, plus an inventory adjustment, was expected to close by the end of October, according to Finlay.

Finlay hailed the purchase as a 'landmark' transaction, noting it almost triples the stand-alone jewelry stores it operates. Bailey has 70 locations in 3...

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