After suddenly getting all of its inventory seized and liquidated by Wachovia Bank last week, David Nygaard Fine Jewelers closed its seven stores on Monday. Owner David Nygaard claims he was current with his regular payments, but Wachovia invoked a clause that allowed the bank to call in the full amount of all of his long-term loans in April. Nygaard said he was liquidating his inventory in a bid to survive when Wachovia seized more than $1 million worth of jewelry last Wednesday.

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