At one point, Ultra operated over 100 stores in outlet centers and 38 other format locations (primarily licensed jewelry departments).
Prior to founding ULTRA, he was a principal with Marks Brothers Jewelers (parent company of the Whitehall and the Lundstrom jewelry chains).
The company's retail philosophy was to offer "off-market" pricing with lowered profit margins than what had been traditional in the industry.
[1] Although market share grew from 1991 through 2000, in 2009, ULTRA filed for bankruptcy for the second time under Chapter 11, Title 11, United States Code.
[4] On October 24, 2012, Signet Jewelers announced that it had signed an agreement to acquire Ultra Stores from Crystal Financial and its other stockholders for approximately $57 million in cash.