Connect with us

Headlines

A. Jaffe to Be Sold in $5M+ Deal

mm

Published

on

It’s part of the Nirav Modi empire.

A. Jaffe, a jewelry supplier that is among the holdings of jeweler Nirav Modi, is being sold for $5.2 million, Rapaport News reports.

The buyer is Paramount Jewels.

A. Jaffe was part of a U.S. Bankruptcy Court filing in February. Modi’s Firestar Diamond Inc. and Fantasy Inc. were also included.

The bankruptcy filing came amid news that Modi was being investigated by Indian authorities in connection with a massive bank fraud case.

In May, Paramount Gems, an affiliate of Paramount Jewels, had been set to purchase A. Jaffe after placing the winning bid of $8 million, but the deal was canceled. A judge had delayed that deal, saying he needed more information about the value of A. Jaffe and the firm’s relationship with Modi, Rapaport explains.

 Read more at Rapaport News 

Advertisement

Advertisement

SPONSORED VIDEO

When the Kids Have Their Own Careers, Wilkerson Can Help You to Retire

Alex and Gladys Rysman are the third generation to run Romm Jewelers in Brockton, Mass. And after many decades of service to the industry and their community, it was time to close the store and take advantage of some downtime. With three grown children who each had their own careers outside of the industry, they decided to call Wilkerson. Then, the Rysmans did what every jeweler should do: They called other retailers and asked about their own Wilkerson experience. “They all told us what a great experience it was and that’s what made us go with Wilkerson.” says Gladys Rysman. The results? Alex Rysman says he was impressed. “We exceeded whatever I expected to do by a large margin.”

Promoted Headlines

Most Popular