Endless Jewelry, a Danish brand focused on charms and bracelets, has filed for bankruptcy in Germany.
In a Facebook post, Endless Jewelry investor Lars Seier Christensen explained that the company had submitted insolvenzantrag, the equivalent of bankruptcy.
“Of course it is too bad for the company’s shareholders, including myself who have lost a lot of money on this but our partners and especially our staff – all in all, all those who have fought for years and spent considerable resources to create an economically viable business,” he said, writing in Danish.
Professional Jeweller quoted the company stating: “Management and shareholders have been trying hard to establish a financial and sound business and they have spent considerable resources to find a sustainable model for the future. However, this has appeared not to be possible.”
Earlier this year the company parted ways with its CEO, CFO and CMO and appointed a new chief executive, Ulrik Rasch.
Business of Fashion in early 2015 said Endless Jewelry had “staked a claim to be one of the fastest growing jewellery brands in history.”
Actress and pop star Jennifer Lopez has served as a brand ambassador and co-designer with Endless since 2014.
Read more at Professional Jeweler