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Diamond Company Could Soon Enter Bankruptcy

The diamond-polishing company has $500 million of debt.

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A bankruptcy filing could be on the horizon for Eurostar Diamond Traders, according to media reports.

The Antwerp-based company requested protection from its creditors at the end of February, but the Antwerp Court of Appeal  rejected the request, Rapaport News reports.

Video: Chicago Estate Jeweler Edward Kahn, Holocaust Survivor, Dies at 103
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Video: Chicago Estate Jeweler Edward Kahn, Holocaust Survivor, Dies at 103

Video: Jeweler Wins Fight for $500,000 Snow Promotion Claim
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Video: Jeweler Wins Fight for $500,000 Snow Promotion Claim

Video: Gene the Jeweler Talks About Work Stress
Gene the Jeweler

Video: Gene the Jeweler Talks About Work Stress

Antwerp Corporate Court “will decide by early April whether to force it into bankruptcy,” according to the publication.

The raw-diamond polishing company owes about $500 million and has lost its De Beers sight, according to De Tijd, a Belgian newspaper.

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Major creditors include ABN Amro, Bank of India, KBC Bank and Standard Chartered Bank, the Brussels Times reports.

The Court of Appeal wrote that Eurostar “doesn’t have a single marketable diamond” and “can no longer function normally.”

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Video: Chicago Estate Jeweler Edward Kahn, Holocaust Survivor, Dies at 103

He operated the House of Kahn.

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Edward Kahn of estate jewelry company House of Kahn has died at age 103.

CBS Chicago reports that Kahn was one of the oldest Holocaust survivors.

He built House of Kahn, which has locations in Chicago and Palm Beach, FL, with his wife, Adele. Just six weeks ago he made public his plans to retire, with his daughter Tobina Kahn to take over the business.

Kahn came to the U.S. 6- years ago from Romania, having lost his parents and sister to the Holocaust.

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Video: Jeweler Wins Fight for $500,000 Snow Promotion Claim

Customers will get refunds for jewelry they bought during the holidays.

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An Idaho jeweler that held a “snow promotion” will be refunding its customers for jewelry they bought during the holiday season, KREM-TV reports.

Clark’s Diamond Jewelers in Couer D’Alene, ID, wrote in a Facebook post Monday that it had “received notification from the insurance company that our policy has been officially accepted and the award will indeed be paid out!”

The store had promised that if it snowed 3 inches or more on Jan. 11, it would refund purchases made between Nov. 22 and Dec. 31. Those purchases amounted to about $500,000.

The claim had originally been denied. Weather Command, a verification firm that works with the jeweler’s insurer, at first said snowfall on the date in question had been less than the required amount.

The store had vowed to fight for approval, believing that snowfall had indeed exceeded 3 inches.

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New List Reveals the ‘Most Common Birthstone in Every State’

The analysis comes from Shane Co.

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A new ranking from Shane Co. looks at the “most common birthstone in every state.”

In a blog post on its website, the company explains that it “used the latest CDC natality data to determine how many people are born each month in every state.” From there it was able to identify the most and least common birthstones in each state.

Peridot, the birthstone for August, “ruled the map,” emerging as the most popular stone in 40 states, including New York and California. Other birthstones are emerald, ruby, sapphire and opal.

Take a look at full results below. Shane Co. also released several other maps, inluding ones showing the “cost of each state’s most common birthstone,” the “second most common birthstone in every state” and the “rarest birthstone in every state.”

popular birthstones

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