Whitehall President and COO Resigns

Troubled Whitehall Jewellers has been dealt yet another blow with the resignation of President and Chief Operating Officer, Lucinda M. Baier. Baier, who resigned from the company for undisclosed reasons, also served as Chief Executive.

Whitehall has been without a permanent CEO since the death of Chairman and Chief Executive Hugh Patinkin in March. In August, the retailer named former J.C. Penney Co. executive Beryl Raff as CEO to succeed Patinkin, but in September Raff resigned before she started the job.

While the Company continues its prolonged search to find a permanent CEO, Daniel H. Levy will serve as interim CEO, effective immediately. Levy has served as a director of the company since January 7, 1997 and had served as a director from March 1996 until May 1996.

Earlier this month, the cash-strapped jewelry retailer said it had received a $30 million financing deal from Prentice Capital Management LP and another investor in exchange for warrants to buy about 20 percent of the company.

Shares of the company were down by a cent at $1.10 in morning trading on the Big Board.