Retiring Bernie Robbins owners gift store ownership to longtime employees
SOMERS POINT, N.J. (CBS) -- The owners of a longtime jewelry store chain that started in Philadelphia will retire soon, and some workers learned they will become the new owners.
"The diamonds are beautiful," Harvey Rovinsky said, looking over the items at Bernie Robbins Jewelers.
For the past 57 years, he has operated this business with his wife Madeleine.
"So her father founded this business in 1962," Rovinsky said.
The business is named after Maddy's father, Bernie Robbins, who eventually handed off the stores to his daughter and son-in-law, complete with memories of celebrity clients and holiday gift seasons. Now, Rovinsky said the couple is preparing for retirement.
"I'd rather have the legacy of Bernie continue than sell the business to someone that would change what we're doing," Rovinsky said.
So about two weeks ago, the Rovinskys called six longtime employees to their home and gave those workers this store in Somers Point, and the two others in Newtown and Villanova for free.
"It was really a very exciting moment for me and for the people involved," said store manager Steven Jaffe, who added he was surprised but ready to carry on the legacy. "I've always treated this like it was my business, as do my co-owners now."
Now, Jaffe is gearing up for a big sale that began Thursday. Rovinsky says the revenue will help ensure the new owners receive a debt-free business.
"Madeleine and I love these people. Again, we have been with them every day, many for 30 years," he said. "So it's incredibly rewarding."
Rovinsky may be giving the business away, but he says he is busier than ever. The plan is for him to work for the new ownership group as the company's chief executive officer.