Reports: Alex and Ani Shutters 20 Stores and Rhode Island Headquarters

Rhode Island-based jeweler Alex and Ani reportedly closed 20 stores and vacated its headquarters in East Greenwich, according to The Providence Journal and other media outlets. The retailer “has implemented a work-from-anywhere model that allows Alex and Ani to hire talent all across the country,” according to CEO Scott Burger, and will explore “future alternatives for office space.”

“Alex and Ani has been reimagining various aspects of our company over the past few years,” said Burger in a statement. “From moving our assembly operation, relocating our warehouse and updating our ERP system, we are collectively working towards a strategic omnichannel environment that supports shifts in retail and consumers’ wants and needs. Throughout this process, we must make difficult decisions that ultimately support this journey.”

Alex and Anni has closed all stores in its home state but will continue operating seven across the country. Its products also are sold at The Paper Store locations.

The company, which was founded in 2004, had more than 100 stores across the U.S. during the height of its operations. Founder Carolyn Rafaelian lost control of the company to investor Lion Capital in 2020, and Alex and Ani filed for bankruptcy in 2021. The brand emerged from the process in 2022 with a $17.5 million loan from Second Avenue Capital Partners to help it support ongoing needs.


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