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David Webb Inc. files for Chapter 11
The company’s gross revenues were less than$5 million
By: Diamond World News Service
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Jun 26 2009 5:24PM
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Reference: 3937  

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David Webb Inc. has filed for Chapter 11 bankruptcy protection at the U.S. Bankruptcy Court for the Southern District of New York in Manhattan. Its lowered sales have not been able to absorb the high operational costs, or pay off its debts and expenses, owing to the market slowdown. In the fiscal year that ended June 30, 2009, gross revenues from sales amounted to less than $5 million, as compared to gross revenues worth $13.25 million in the previous fiscal.

On June 18, a Board decision was taken to file for Chapter 11. The filing notes 50-99 creditors, assets valued between $10 million to $50 million, and liabilities worth $1 million to $10 million. The 61-year-old family-owned retail and manufacturing jewellery company has stores in Manhattan and Beverly Hills, Calif.

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David Webb Inc.
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A Morganstern
(New York)
Wow, I didn't realize that so much was going on at DW behind the scene. It's two and a half years later and where do we stand today? I would love to offer evaluations on old pieces as we purchase a lot of Webb. tmwjewels.com
Agree (0)
Jim M
(West Palm Beach)
Cindy In Wellington. If you still have the DW work of art you can bring it to Unique & Precious in WPB and we can give you our evaluation or direction.
Agree (0)
bobbi
(california)
I could care less that he filed for chapter 11 he should be punished (Stanley Silberstein) for stealing my daughter. Just because he as money does not give him the right to take my baby and to top that he never told my daughter until she found out after Judy passed. He should have given my baby back. how dare he, steal my child. I hope he losses everything for what he has done. Your a dis grace and a liar. I can forgive but, I will to this day never forget what you are continuing to do to me. You know one day the truth will come out and you can feel how hurtful you have been to me and the sorrow caused by you. Your a nasty man. How dare you.
Agree (0)
david
(rancho santa fe)
would love to have the company. Can sell any webb piece I ever get my hands on Antique & Estate Jewelry ltd. Rancho Santa Fe ca dleavitt70@aol.com
Agree (0)
Cindy
(wellington)
I own a piece of older David Webb jewelry, it is gorgeous, where can I take it to authenticate, it is a 18k with about 5-6 carat diamond, it looks like a reverse bow. Does any one know where I can get more info on this ring?
Agree (0)
Sue
(Roslyn,L.I.)
i own a magnificent gold webb bracelet from the early 70's.Was just about to sell it.Would hate to have it melted down.Any ideas where I might sell it intact?...Sue
Agree (0)
Karl
(Houston)
David Webb's jewelry as craft? Heaven forbid! It is art and nothing else. As an owner of several David Webb pieces (some even pre-1975, yes indeed) it pains me deeply to hear that the great man's art was reduced to trifles by the nefarious Silberstein clan, which ran the company into the ground. (Nothing to do with the Great Recession of 2008-9, of course, which has decimated many luxury goods companies.) Sounds like big-time sour grapes to me -- perhaps Mr. Gruberth couldn't gain control of the company in the 1970's, slunk off with his tail between his legs, and is now returning to re-fight old battles?
Agree (0)
Michael Kanners
(Miami)
Having handled many, many fantastic David Webb pieces over the years there is often a difference between old and new. This is not only the case with Webb, but also many other "great" jewelers who either grow to large corporate dimensions or try to cut too many corners. Webb is a very personal style of jewelry and the company needs to reflect this. Good intentions and superior business sense are the only things that will get jewelers through hard times. For better or for worse the Silbersteins ran the company for many years and now it is where it is. Perhaps this "reorganization" will actually lead to a rebirth of the company in the hands of others.
Agree (0)
N. Willson
(New York)
Recent events in the news should teach us that our business ethic will eventually see us through or doom us. The Silbersteins themselves know the circumstances of just how they obtained David Webb,Inc along with their business ethics while trying to run it. It is more difficut to maintain deception because one has to remember and add layers of deception to build onto the last layer. The truth is easy to maintain because one only has to remember the facts. There are people in NYC that would be a huge asset to David Webb,Inc right now, if the Silbersteins would just open their eyes,remember the facts and ask for help. It would be given.
Agree (0)
Mike Weinberg
(Pattaya)
David WEBB, I met David Webb many years ago in New York he was a brilliant Jewelry Artist and business man. I truly believe the Silberstein’s did their best to keep the company on the right path and suffer only from the ills of the new world business environment. Today to succeed all Company Management has to very flexible and diligently work, hand in hand with its suppliers and customers, which is not a easy thing to do.
Agree (0)
Jim M
(Lake Worth/Palm Beach)
I've been a dealer in the secondary market of 'David Webb' art and craftsmanship for about 8 years now. I can vouch for what John Gruberth says about the lack of artistic quality of post 'David Webb' jewelry. Shoddy workmanship in many large link necklaces with enamel that was just not meant for. In short order it would chip off from rubbing against adjoining links. The Infamous frog designs that no longer had a labor of love with each wart hand attached but instead cast as one unit. If you handle enough of it as John has over the years you get a feel for the real "David Webb" and the love that went into creating each work of art. Hopefully someone with that love for details and beauty and not the love of money that the Silbersteins had will resurrect what once was. Might be nice if John Gruberth or someone like him could be that person.
Agree (0)
T Wager
(NY)
I would love to talk to you sometime about authenticating several pieces of Webb jewelry that my family has collected over the years. You seem to be regarded as the real authority of Webb jewelry among the industry. Your name was mentioned more times than not whenever I asked who I should speak to. I guess David Webb, Inc let it all go to hell, didn't they?? What a shame. Why don't you offer your knowledge to Webb, Inc for authenticating Webb pieces??? It might be something that might help them right now. It looks like they need you.
Agree (0)
T Wager
(NY)
The pieces are starting to fit together. You must be the same John Gruberth that Stanley Silberstein once told me was quite dead! I e-mailed Webb, Inc once and asked if they had a specific brooch that I was looking for. When Stanley e-mailed back stating that he didn't know whether Webb, Inc ever had the brooch I was looking for, I asked him if he knew where I could locate John Gruberth. I had heard through the industry that if I wanted to know anything about Webb jewelry the person to talk to was John Gruberth. Stanley told me that John Gruberth was dead. I explained to him that I thought perhaps I was looking for John Gruberth, JR. Stanley's response was that John GruberthJr was dead too. It's a delight to know that you are still exchanging air! I have heard that your father, along with Andrew Clunn and David Webb himself of course were the foundation men of David Webb, Inc. I would love to talk to you sometime about authenticating several pieces of Webb jewelry that my family has co
Agree (0)
JoAnne Sterling
(West Palm Beach)
Good for you, Cynthia!I have not forgotten the incident when N. Silberstein called David's personally presented pieces,"craft". Anyone that was there I'm sure will never forget--so much"facial egg". David Webb jewelry are works of art, not just something to wear.They have a "life" of their own. I believe that point trying to be made is that management of any company can cut just so many corners before they find themselves running in circles. Sometimes management should be left to those who know how to manage and have a great love for their product. Bookkeepers should do bookkeeping-leather goods salemen should sell leather goods.It's a shame...
Agree (0)
JoAnne Sterling
(West Palm Beach)
Good for you, Cynthia!I have not forgotten the incident when N. Silberstein called David's personally presented pieces,"craft". Anyone that was there I'm sure will never forget--so much"facial egg". David Webb jewelry are works of art, not just something to wear.They have a "life" of their own. I believe that point trying to be made is that management of any company can cut just so many corners before they find themselves running in circles. Sometimes management should be left to those who know how to manage and have a great love for their product. Bookkeepers should do bookkeeping-leather goods salemen should sell leather goods.It's a shame...
Agree (0)
JoAnne Sterling
(West Palm Beach)
Good for you, Cynthia!I have not forgotten the incident when N. Silberstein called David's personally presented pieces,"craft". Anyone that was there I'm sure will never forget--so much"facial egg". David Webb jewelry are works of art, not just something to wear.They have a "life" of their own. I believe that point trying to be made is that management of any company can cut just so many corners before they find themselves running in circles. Sometimes management should be left to those who know how to manage and have a great love for their product. Bookkeepers should do bookkeeping-leather goods salemen should sell leather goods.It's a shame...
Agree (0)
JoAnne Sterling
(West Palm Beach)
Good for you, Cynthia!I have not forgotten the incident when N. Silberstein called David's personally presented pieces,"craft". Anyone that was there I'm sure will never forget--so much"facial egg". David Webb jewelry are works of art, not just something to wear.They have a "life" of their own. I believe that point trying to be made is that management of any company can cut just so many corners before they find themselves running in circles. Sometimes management should be left to those who know how to manage and have a great love for their product. Bookkeepers should do bookkeeping-leather goods salemen should sell leather goods.It's a shame...
Agree (0)
Cynthia Cook
(Walton)
Where were you??? Nina, HERSELF called a David Webb brooch that David himself pinned onto a friend, "craft". Of course she didn't know that at the time she called it so-- FACT!! She called 4 other pieces "craft" that were auctioned at Christies. Those pieces were also personal presentations by David himself--FACT! FACT--it was J. Gruberth that appealed to Nina's memory lapse and sense of fair play and had her reverse her "craft" decision. "CRAFT" was originally Nina's word-FACT! I am not reading Mr. Gruberth's comments as "knocking the employees". I read them as stating the FACT that it's the lack of management that has led them to where they are today, not what the employees' skill. The Silbersteins for quite a few years have had "credit trouble" among the suppliers in the industries. David Webb, Inc going bankrupt will potentially damage many a "Mom and Pop" jewelry supply company (example: Heller Metals $4,000.00). Nina, being David Webb's bookkeeper, should have had the skil
Agree (0)
Cynthia Cook
(Walton)
Where were you??? Nina, HERSELF called a David Webb brooch that David himself pinned onto a friend, "craft". Of course she didn't know that at the time she called it so-- FACT!! She called 4 other pieces "craft" that were auctioned at Christies. Those pieces were also personal presentations by David himself--FACT! FACT--it was J. Gruberth that appealed to Nina's memory lapse and sense of fair play and had her reverse her "craft" decision. "CRAFT" was originally Nina's word-FACT! I am not reading Mr. Gruberth's comments as "knocking the employees". I read them as stating the FACT that it's the lack of management that has led them to where they are today, not what the employees' skill. The Silbersteins for quite a few years have had "credit trouble" among the suppliers in the industries. David Webb, Inc going bankrupt will potentially damage many a "Mom and Pop" jewelry supply company (example: Heller Metals $4,000.00). Nina, being David Webb's bookkeeper, should have had the skil
Agree (0)
Cynthia Cook
(Walton)
Where were you??? Nina, HERSELF called a David Webb brooch that David himself pinned onto a friend, "craft". Of course she didn't know that at the time she called it so-- FACT!! She called 4 other pieces "craft" that were auctioned at Christies. Those pieces were also personal presentations by David himself--FACT! FACT--it was J. Gruberth that appealed to Nina's memory lapse and sense of fair play and had her reverse her "craft" decision. "CRAFT" was originally Nina's word-FACT! I am not reading Mr. Gruberth's comments as "knocking the employees". I read them as stating the FACT that it's the lack of management that has led them to where they are today, not what the employees' skill. The Silbersteins for quite a few years have had "credit trouble" among the suppliers in the industries. David Webb, Inc going bankrupt will potentially damage many a "Mom and Pop" jewelry supply company (example: Heller Metals $4,000.00). Nina, being David Webb's bookkeeper, should have had the skil
Agree (0)
Javier
(New York)
Your comments show more about your anger and envy rather than what is really happening at David Webb, Inc. If you left the company almost 30 years ago, how could you pretend to know what is going on inside since then? You are trying to dismiss the work of the people who has fought to keep David Webb, Inc. alive for the last three decades, including among others jewelers, setters, designers, and sales people. The tone of your comments show how bias and bitter you are and give no light into what really happened that forced the owners of DW, Inc. make such a decision.
Agree (0)
J. Gruberth
(Warwick)
For example: the final word on all authentication's is by a man who was hired, as a line jeweler in the 1980's. Now when an estate dealer goes into David Webb, Inc to get an older piece of Webb jewelry(before 1980) authenticated, the chances of that happening are nil. Then that same dealer has to go through the tedious task of researching for the original receipt, and taking it back to David Webb, Inc.. After all of that time, David Webb, Inc., will say they have to do "research" for an hour or two, then finally will authenticate the same piece that they themselves testified was a "knock off". To give their authenticator a bit of a break, how could he ever recognize the craftsmanship of the old masters when he, himself was not was not hired before 1980 therefore has never been exposed to the grand old pieces? Why David Webb, Inc., doesn't hire someone to authenticate pieces who is familiar with the earlier pieces is beyond me , many other estate dealers and the industry as a whole.
Agree (0)
J. Gruberth
(Warwick)
David had a "gift" for jewelry design. He captured his creations from nature, his imagination, mythology and/or his own life experiences. He knew what he wanted the customer to "see" in his jewelry and was relentless in his demands to achieve that end. He surrounded himself with people who shared his insight and who had the skill to complete his dreams. . Only about three of these precious original craftsmen have survived David today and remain. In the 1960's David Webb, Inc had at least eight times that number of skilled employees at each specialty position working out of two shops in New York City alone. Now, simply put, how can such a small number of David Webb's hand picked artists be expected to keep up the quality of work that it took so many to bring to life? One must keep in mind that there is no "leader" left to give guidance as to how "David would have wanted it done". Most of David's confidants left rather than tolerate the Silberstein's business ways. For example: the fi
Agree (0)
J. Gruberth
(Warwick)
Even worse, there was Nina Silberstein nagging all who can still tolerate hearing what she has to say, that is was herself who helped David start "David Webb,Inc" when it was really a dear and gentle lady, Antoinette Quilleret. Ms Quilleret was the co-founder and president of "David Webb, Inc" in 1945 as posted in the New York Times obituraries -Nov. 22, 1989. Ms Quilleret retired in 1963. Nina was simply David Webb's bookkeeper in the 1960's. Today David must be smiling,
Agree (0)
J. Gruberth
(Warwick)
Since David's death in 1975 the Silbersteins have mismanaged and compromised the quality of his creations by changing the models for the sole reason of expediency therefore producing an inferior product that in no way represents "David Webb". This is what caused fifteen of the top model makers, the two formen that helped David build "David Webb" and myself to leave and start a new business (Andrew Clunn, Ltd) rather than stay and watch as "America's Jeweler's" vision be metamorphosed into nothing more than "craft". True believers of David Webb were disgusted by Stanley Silberstein's comment on his web site asking that "all remember David Webb, the company--not David Webb the man". It was "the man" and his gift that should be David Webb, Inc, not the company that has raped his creations and contorted them into grotesque pieces of metal struggling to be recognized. Even worse, there was Nina Silberstein nagging all who can still tolerate hearing what she has to say, that is was herself
Agree (0)
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