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.
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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
Family Legacy, New Chapter: How Wilkerson Turns 89 Years of History Into Future Success
After 89 years of serving the Albany community, Harold Finkle Your Jeweler faced a pivotal decision. For third-generation owner Justin Finkle, the demanding hours of running a small business were taking precious time away from his young family. "After 23 years, I decided this was the time for me," Finkle explains. But closing a business with nearly nine decades of inventory and customer relationships isn't something easily managed alone.
Wilkerson's comprehensive approach transformed this challenging transition into a remarkable success story. Their strategic planning handled everything from advertising and social media to inventory management and staffing — elements that would overwhelm most jewelers attempting to navigate a closing sale independently.
The results speak volumes. "Wilkerson gave us three different tiers of potential goals," Finkle notes. "We've reached that third tier, that highest goal already, and we still have two weeks left of the sale." The partnership didn't just meet financial objectives—it exceeded them ahead of schedule.
