Alex and Ani Reportedly Closes 20 Stores and Its HQ

July 2, 2023
By Leah Meirovich

Charm-jewelry retailer Alex and Ani is shutting 20 stores as well as its Rhode Island head office, according to news reports.

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The retailer, which two years ago filed for Chapter 11 and saw the departure of founder Carolyn Rafaelian, informed employees at an all-staff town hall meeting last Tuesday that it would be closing its headquarters the same day, The Boston Globe reported. The company’s lease for the property was due to run through 2025, the newspaper continued.

Alex and Ani closed some stores before its 2021 bankruptcy filing but still had 74 across the US, Puerto Rico and Canada, according to The Boston Globe. It’s unclear how many other stores shut during that two-year period; the report said the company would be left with just seven stores, implying it had already closed almost 50.

Some employees found out just before the locations were due to open on Monday morning, the report added.

In March, Alex and Ani partnered with US-based Stord to outsource its distribution, fulfillment and manufacturing, claiming the move would help support the company’s e-commerce business, which had grown rapidly, and would also reduce costs.

The charm retailer is currently controlled by former debtholders Lion Capital and Bathing Club.

Alex and Ani was unavailable for comment at press time.