Whitehall Jewelers files for protection

Whitehall Jewelers Holdings Inc., the Chicago-based owner of specialty jewelry stores founded in 1895, and affiliate Whitehall Jewelers sought bankruptcy protection from creditors after receiving default notices. The company listed consolidated assets of $207.1 million and consolidated debts of $185.4 million as of May 3 in Chapter 11 documents filed today in U.S. Bankruptcy Court in Wilmington, Delaware. Whitehall had net loss of $6 million in the first quarter, on top of a loss of $74.1 million in the year through Feb. 2, according to court documents.