Friedman's Jewelers, a store in the Greeneville Commons, will be closing, an employee said Wednesday, though the closing date has yet to be announced.

The closing of what has been a popular local store is the result of a bankrupty case affecting most of the chain of some 470 Friedman's jewelery stores across the country.

Faye Barnes, manager of the local Friedman's store, said this week she was not allowed to comment.

A reporter was referred to an out-of-state consultant, but she would only say, "It's a federal bankruptcy case. We're not allowed to say anything."

However, reports on the Internet say the U.S. Bankruptcy Court in Wilmington, Del., has approved the request by Friedman's, Inc,. which operates 455 stores, to liquidate about $400 million in inventory in 377 of the stores over the next 10 to 12 weeks.

The liquidation of inventory reportedly began on March 29.

The Friedman's sale is being managed by a group of three national liquidation and asset recovery firms: Great American Group, LLC; Hudson Capital Partners, LLC; and Silverman Jeweler Consultants, Inc.