After 50 years of enterprise, iconic Spokane retailer information for chapter

After 50 years of business, iconic Spokane store files for bankruptcy

Rings & Issues, an iconic Spokane enterprise and founding member of the cluster of downtown retailers referred to as 2nd Metropolis, filed for chapter this month following what house owners described as a compelled closure attributable to a computer-system crash.

In accordance with posts on Fb, the 50-year-old enterprise  suffered an irrevocable pc failure on Aug. 15.

“By midday, we have been useless within the water, with no technique to even submit something on our web site to clarify,” the submit stated. “We made it 50 years, so (we) could be happy with that, though we’re very unhappy at how abruptly we ended.”

Calls and messages left on the retailer and on its Fb web page have been left unanswered this week.

In accordance with the chapter that was filed Sept. 1 by firm President Polly Jo LaRue, Rings & Issues had complete belongings of about $250,000, of which about $230,000 was in merchandise.

The corporate listed its liabilities, or the cash owed to others, at about $894,000 to a protracted listing of collectors.

Legal professional David Gardner, who filed the chapter on behalf of LaRue, didn’t instantly return a message Thursday searching for remark.

The closing prompted a large response on social media, with greater than 490 folks posting principally constructive feedback about their lengthy years of patronizing the Spokane retailer that principally bought objects to make jewellery.

The shop, which had a yearslong run in River Park Sq., had been the creation of the late Russ Nobbs, who died in 2014 on the age of 70.

Raised on a farm in upstate New York, Nobbs was proud to be referred to as a hippie.

As soon as satisfied he wished to develop into a physicist, Nobbs was accepted to attend Massachusetts Institute of Expertise however didn’t go due to the fee.

After finding out engineering at a distinct faculty, Nobbs misplaced curiosity. “So when a possibility got here to stroll out of college and be part of an anti-nuclear-weapons march, I took it,” Nobbs advised the newspaper in 2014.

Earlier than founding Rings & Issues, Nobbs based a neighborhood commune and revealed a counterculture newspaper from 1967 to 1970 referred to as The Spokane Pure.

The “hippie,” who as soon as was arrested for vagrancy by the Spokane police, later constructed his enterprise value a number of thousands and thousands and later served on the Spokane Chamber of Commerce.

“I scared folks, however it was intentional,” Nobbs advised The Spokesman-Evaluate. “Individuals must be scared with the intention to get up and see what was happening.”

He finally began Rings & Issues in 1972 with jewellery merchandise leftover from his father-in-law’s enterprise on the 1964 New York’s Worlds Truthful.

Nobbs and his spouse, Dee Mueller, finally constructed the enterprise into three shops: Rings & Issues retail, a bead retailer and The Jeweler’s Bench, a fine-craft gallery.

However he by no means misplaced his starvation for advocacy. He led recycling efforts at Spokane occasions for many years and in 2012 was inducted into the Washington State Recycling Affiliation’s Recycling Corridor of Fame.

That very same 12 months, he acquired the inaugural Mike Chappell Spokane River Hero Award from the Middle for Justice.

However he additionally constructed his enterprise by promoting jewellery at state gala’s after which malls, and later develop into one of many first wholesale bead retailers to supply on-line gross sales.

At one level, Nobbs stated he traveled to China, Taiwan, Bali, Thailand and India to search out beads.

Simply earlier than his demise in 2014, Nobbs estimated that it could price $4 million to begin a enterprise from scratch at the scale it had develop into.

“Jewellery is actually about intercourse, when it comes right down to it – making your self enticing,” Nobbs stated. “Now, do the beads I’m sporting make me enticing to younger ladies? Most likely not, however my spouse likes them.”

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