Jewelry distributor Finley is packing up its Orange, Connecticut operations and taking 200 jobs to North Carolina.

Finley sells to 674 department stores like Bloomingdales and retailers like Bailey, Banks & Bittle.

The firm is moving to Greensboro, North Carolina, leaving all 170 employees at its Connecticut distribution center out of a job.

In a letter to employees, Finlay says some people will lose their jobs at the end of April. Workers were told others will stay until September at the latest.

The company is ending its relationship with all department stores and will concentrate on specialty retailers only. That shrinks its client base from close to 700 stores to about 70.

Last year alone, shares of the company lost 97% of their value.