Update Published 8/3/09: Ultra Stores Emerges From Bankruptcy, But Closing 30 Stores Ultra Stores Inc., the off-price jewelry retailer that filed bankruptcy in April 2009, emerged from Chapter 11 last week. In moving ahead, however, Ultra said it would close about 30 underperforming locations by the end of 2009. Crystal Capital and Bank of America provided Ultra with funding for this recovery, but additionally, the chain said that the landlords of 178 of its locations agreed to provide temporary rent relief.