NC store owner loses $400,000 white Christmas bet

[December 30, 2010]  WILMINGTON, N.C. (AP) -- A North Carolina jewelry store owner made a $400,000 bet against a white Christmas -- and lost.

Alan Perry, owner of Perry's Emporium in Wilmington, promised refunds for everything bought at his store between Nov. 26 and Dec. 11 if more than 3 inches of snow fell in Asheville on Christmas Day. The city got more than 6 inches.

Perry says the total payout for customers will be around $400,000. He says he paid for an insurance policy that will cover the refunds.

Perry is undaunted by losing the bet. He says he's thinking of a similar promotion for Valentine's Day, based on how much snow Asheville gets on Feb. 14.

[Associated Press]

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