Death and debt has forced the owner of Jewelry Warehouse to close his stores.
Public records show Scott Satterfield owes more than $1 million in taxes, unpaid bills and credit payments.
His …
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Death and debt has forced the owner of Jewelry Warehouse to close his stores.
Public records show Scott Satterfield owes more than $1 million in taxes, unpaid bills and credit payments.
His stores in Cayce and Lexington were known for their Garnet and Black Traditions Carolina Gamecock gear, Tiger Paw Traditions Clemson Tigers gear and Palmetto Traditions clothing.
The stores at 228 Knox Abbot Drive in Cayce and at 5134 Sunset Blvd. in Lexington had planned foreclosure sales, but the SC Department of Revenue revoked their retail licenses, The State newspaper reported.
Tax liens against the stores came to almost $500,000 in state sales taxes and employees’ income taxes.
Satterfield, whose father George started the chain in 1977, blamed the death of his wife Janice and his tax and financial problems.
George Satterfield died from cancer in 2005.
Caring for Janice who died in 2016 added to his difficulties, he said.
“I thought I was spreading my efforts appropriately to take care of both, working early and late while she slept and tending to her as needed,” he wrote on Face-book. “But with doctor appointments and hospital stays, it is now apparent I had not seen many key warning signals.”
Lexington County court records show 5 pending lawsuits claiming:
• $260,148 debt.
• $330,500.41 in taxes.
In January, Jewelry Warehouse admitted in a Lexington County court filing that it owed the Lexington store’s landlord $305,112.
The lawsuits include:
• BB&T seeks $21,088.18 on a credit account;
• Lamar seeks $1,950 for outdoor advertising;
• Nike seeks $102,733.04.
• Columbia Sportswear seeks $18,983.70.
• Summit Sportswear, seeks $115,394.88.
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