Buxbaum Group News - April 29, 2009

M.J. CHRISTENSEN STORE CLOSING AND CHAINWIDE CONSOLIDATION SALE OFFERS DEEPEST DISCOUNTS IN LAS VEGAS RETAILER’S 70-YEAR HISTORY - Galleria Mall location to close following $10 million sale at all 4 stores

LAS VEGAS (4/29/09) – M.J. Christensen (http://www.mjchristensen.com), the venerable jeweler known for its sumptuous showrooms filled with chic brands, is offering discounts of up to 70%-off on thousands of designer creations as part of an eight-week consolidation sale at all four of its Las Vegas stores.

The nationally known retailer—which is among the 5% of U.S. jewelry stores to gain entry into the prestigious American Gem Society—is closing its Galleria Mall location in Henderson, but will continue operating its freestanding stores at Boca Park and Montecito Marketplace, both in Las Vegas, and at Eastern & Coronado in Henderson. Beginning this week, the consolidation sale at all four locations features thousands of items, including fine watches and an array of bridal and fashion pieces. The inventory is valued at more than $10 million at retail. The sale is being managed by Agoura Hills, Calif.-based Buxbaum Jewelry Advisors, a division of Buxbaum Group, a nationally known turnaround advisory and inventory liquidation firm.

“Among the brands represented in this sale are Charriol, Raymond Weil, Suzy Fabrikant, Jose Hess, and Bedat & Co.,” said Cliff Miller, M.J. Christensen’s president and CEO. “Many of the designers with whom we work enjoy the challenge of creating pieces in a variety of price-points. Consequently, there will be something for everyone in this extraordinary sale, with prices ranging from $25 to a quarter of a million dollars.”

Passionate about diamonds and fine jewelry, Miller has guided M.J. Christensen through significant growth since joining the company in 2000 from Augusta, Ga.-based A.A. Friedman Co. Under his leadership, the local retailer earned a reputation among collectors for its focus on customer service as well as its exclusive inventory. “We successfully recruited national and international designers who were previously not represented in the Valley,” Miller noted. “We also have been trained to serve people, not sell them. We try to understand our clients’ desires and provide them with informed options and suggestions.”

Like other jewelers, M.J. Christensen has experienced a sales slowdown concurrent with the housing collapse and recession. The consolidation sales, by far the largest in the company’s 70-year history, represent an opportunity for discerning shoppers to acquire truly unique pieces at prices never seen before, said Miller, whose wife, son, daughter and daughter-in-law are part of the business. “These are absolutely unheard-of prices,” he commented. “As we re-price this merchandise, my wife is doing double-takes at the discounts.”

Sale hours at the Galleria Mall location are from 10 a.m. to 9 p.m., Monday through Saturday, and 11 a.m. to 6 p.m. on Sunday. Sale hours are 10 a.m. to 7 p.m., Monday through Saturday, and noon to 5 p.m. on Sunday at the Henderson location, which is at 10400 S. Eastern Ave.; and the Boca Park location, 8980 W. Charleston Blvd. Sale hours at the Montecito Marketplace location are 10 a.m. to 6 p.m., Monday through Saturday. See the M.J. Christensen web site at http://www.mjchristensen.com/locations.php for complete details and directions.

All standard forms of payment accepted. For further information on the sale, contact the M.J. Christensen Corporate Office, 702-732-0138. On the Web, at http://www.mjchristensen.com.

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