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Alpha Omega Files Bankruptcy

1/03/2008 01:17:00 PM
We all knew it was going to happen. After all the commotion over the past two weeks (here) we were all expecting it. No self-respecting businessman packs up his family and flees the country unless something really bad is going to happen.

According to the Globe today, Alpha Omega filed for Chapter 11 bankruptcy last night which will result in the Alpha Omega's assets being auctioned off. The first bid was placed by Tiger Capital and Gordon & Co at 70.25% of the inventory cost.

I wonder if I can get a good deal on a Rolex right now since the company is in turmoil. Clearly Tiger Capital and Gordon & Co will be getting the Rolex's for 30% off - I wonder if the store managers would cut me a deal since the ship is sinking anyway.

Not sure what I'd do with a Rolex though, probably just pack it away in a safety deposit box until I'm enough of a baller to sport a Rolex. =)

For those of you that have stuff on order at Alpha Omega, or have a watch there waiting to get fixed. I'd suggest cancelling your order and/or getting your property back asap. I would feel rather uneasy leaving my money or expensive jewelry in the hands of a bankrupt company.

Click (here) to read the Globe article yourself.

UPDATE 1/4/07: Anyone else tired of reading about Alpha Omega? It's been three weeks - it's not news anymore. Stop printing articles. Dear Boston Globe, you're beating a dead horse. Click (here) for the latest article.



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2 Response to "Alpha Omega Files Bankruptcy"

  1. Anonymous Said,

    I don't understand how such an institution could go into bankruptsy! When I have visited their Boston stores, on all occasions there have been customers purchasing numerous pairs of $$$mega buck$$$ designer and rolex watches.

    Posted on 1/5/08, 8:42 PM

     
  2. Will Said,

    I went to ask if recent news plays any role in the pricing of products. ...and the answer is NO. The company is for sale, but until they plan to liquidate inventory a Rolex will still cost you an arm and a leg. However, recently the stores have been able to offer up to 20% off compared to the 5-10% they did in the past. So best of luck negotiating!!!

    Posted on 1/7/08, 10:22 AM

     
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