Follow-ups: David Nygaard
- January 29, 2009
David Nygaard, the 2005 winner of the Virginia Small Business Success Story, is still selling jewelry but the past year has been tumultuous. Nygaard was forced to close his seven David Nygaard Fine Jewelers stores in Hampton Roads two months after his lender demanded early repayment of a five-year loan. The bank also seized $1 million of the company’s jewelry in June as collateral and began to liquidate some of it. Nygaard’s wife formed Nygaard One LLC, which has opened Nygaard Fine Jewelers in Chesapeake to sell off the remaining jewelry inventory. Those sales will be used to pay down debt from Nygaard’s companies. David Nygaard is a consultant in that store. David Nygaard Fine Jewelers was the cover story subject of the magazine’s February 2006 issue.
Orbital Sciences Corp., a Dulles-based provider of space launch services, received a $1.9 billion contract from NASA for resupply services to the International Space Station. Orbital has begun an 18-month testing and production process in Dulles, its Wallops Island facility and its Chandler, Ariz., Launch facility. Virginia Business reported on the company’s plans in the August 2008 issue.