Headlines

WD Lab Grown Diamonds Files for Ch. 7 Bankruptcy Protection

The firm reported liabilities of about $44 million versus assets of $3 million.

Published

7 months ago

October 15, 2023

INSTORE Staff

WD Lab Grown Diamonds has filed for Chapter 7 bankruptcy protection

The company reported liabilities of about $44 million versus assets of $3 million, the Financial Times reports.

The company, based near Washington, DC, made the filing in federal bankruptcy court in Delaware.

The newspaper stated that per-carat prices for lab-grown diamonds “have crashed more than threefold in seven years, as manufacturers continue to flood the market.”

WD Lab Grown Diamonds was founded in 2008 and used the using the chemical vapor deposition process to make its diamonds. It had revenue of $33 million last year..

She Wanted to Spend More Time with Her Kids. She Called Wilkerson.

Your children are precious. More precious than gold? Absolutely! Just ask Lesley Ann Davis, owner of Lesley Ann Jewels, an independent jewelry store that — until the end of 2023 — had quite a following in Houston, Texas. To spend more time with her four sons, all in high school, she decided to close her store. Luckily, she was familiar with Wilkerson and called them as soon as she knew she wanted to move on to bigger, better and more family-focused things. Was she happy with her decision? Yes, she was. Says Davis, “Any owner looking to make that life change, looking to retire, looking to close, looking for a pause in their career, I would recommend Wilkerson. Hands down!”