Jewelry Store Chain Ordered to End Endless Going Out of Business Sales
JCK Onlinereports that a jewelry store chain in Ohio caleld International Diamond and Gold Company has been ordered to stop running going-out-of-business sale events. The court deemed the store's going-out-of-business sales - which ran for several months - were misleading to customers.
A statement from the Attorney's General office charged that IDG has been conducting "going out of business" sales for more than 90 days and was supplementing inventory during the sales, both violations of Ohio law. Cordray's office launched an investigation into IDG's sales in August. On Aug. 27, the Attorney General issued a cease and desist notice. The court ruling on the case came Dec. 16.
Ironically, the stores really will be closing in December when they will presumably need to run going out of business sales.
