Snatching At A Chain

It's not the first time a family has feuded over a cache of jewels. While jewelry retailer Zale Corp. is readying its plan to emerge from Chapter 11 bankruptcy protection, two separate factions headed by different members of the founding Zale family are battling the current owners, Peoples Jewellers Ltd. of Toronto and Swarovski International Holdings of Zurich, for control. But while putting a Zale back in charge of Zale may have some sentimental appeal, the two family-led rivals in this drama lack fresh capital and, just as important, the support of creditors.

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