Connect with us

Headlines

Jewelry Wholesaler Files for Bankruptcy

It has millions in outstanding debt.

mm

Published

on

Tara Jewels LLC, a wholesaler based in New York, has filed for Chapter 11 bankruptcy protection.

Its parent company, Tara Jewels Holdings, Rapaport News reports.

Each company lists between $10 million and $50 million in outstanding debt.

In its June 21 filing, Tara Jewels states that it has between $500,000 and $1 million in assets. Tara Jewels Holdings states that it has up to $50,000 in assets.

The companies are part of Tara Jewels Ltd., which is based in India.

Advertisement

Tara Jewels Holdings established its first U.S. diamond and gemstone wholesale jewelry division in 2006 by partnering with M. Fabrikant & Sons Inc. to form Fabrikant-Tara International.

The case was filed in U.S. Bankruptcy Court for the Southern District of New York (Manhattan).

Read more at Rapaport News

Advertisement

SPONSORED VIDEO

Wilkerson Testimonials

Wilkerson Helped This Jeweler to Navigate His Retirement Sale Despite a Pandemic

Hosting a going-out-of-business sale when the coronavirus pandemic hit wasn’t a part of Bob Smith’s game plan for his retirement. Smith, the owner of E.M. Smith Jewelers in Chillicothe, Ohio, says the governor closed the state mid-way through. But Smith chose Wilkerson, and Wilkerson handled it like a champ, says Smith. And when it was time for the state to reopen, the sale continued like nothing had ever happened. “I’d recommend Wilkerson,” he says. “They do business the way we do business.”

Promoted Headlines

Most Popular