The Alpha Omega fine jewelry chain, which has been under speculation for its bankruptcy filed in the court has finally been given the approval for sale. US Bankruptcy Court Judge William Hillman gave the go ahead, and a consortium finally bought over the chain. The consortium is formed by the Gordon Co. of Fort Lauderdale, Florida, SB Capital of Great Neck, New York, and Tiger Capital of Boston.

As of now, two Alpha Omega stores will be included in the Ross-Simons chain, which currently manages nine retail shops in Rhode Island, Massachusetts, New Jersey, Connecticut, Georgia and North Carolina. The consortium said that it is looking at the possibility of including other potential retailers to assume the leases of the other two stores located in Cambridge and Burlington. The liquidation of the Alpha collection of jewellery, fine jewellery and watches that is worth millions of dollars, will take place after the complete inventory is been taken.