Lab-GrownAug 16, 2022
Pandora’s Lab-Grown Diamond Line Heads to the U.S.MajorsAug 25, 2022
Fresh Out of Bankruptcy, Alex + Ani Gets $17M Loan
Second Avenue Capital Partners announced the closing of a $17.5 million senior secured credit facility for the jewelry company.
The Alex and Ani “Armenian Flower” bangle. The jewelry company recently closed on a $17.5 million loan, which it will use to continue to rebuild after emerging from bankruptcy.
Boston—Alex and Ani LLC has secured a multimillion-dollar loan that will go toward working capital and business operations as it continues to rebuild after emerging from bankruptcy.
Second Avenue Capital Partners (SACP) announced the closing of the $17.5 million senior secured credit facility on Wednesday.
Scott Burger, the former Pandora executive who was named CEO of Alex and Ani in January, said the loan is an “affirmation of the resiliency” of the Alex and Ani brand.
“We create jewelry that connects with a customer’s emotions. It was essential for us to partner with a lender that could appreciate the intangible value of that emotional connection and recognize the benefit it will have on our continued evolution,” he said, noting SACP’s commitment to the company’s goals and its experience in jewelry.
The Boston-based lender closed on a $10 million loan to myGemma, an online resale site for luxury goods including jewelry and watches, in April.
In May, it provided a senior secured credit facility to Maria Tash, the brand founded by designer Maria Tashjian and known as an innovator in piercings. The amount of the loan was not disclosed.
Regarding the loan to Alex and Ani, SPAC President Chris O’Connor said: “Alex and Ani has embarked on a new journey this year. Expanded leadership has allowed the company to take a step back and focus on the foundation of the business. Alex and Ani cornered this market years ago and now they’re assembling the underlying structure to support the volume.
“They have an enormous opportunity for growth and we’re eager to help them achieve their objectives and execute on their strategy.”
Founded in Rhode Island in 2004 by Carolyn Rafaelian, who named the company after her daughters, Alex and Ani’s inexpensive, expandable wire charm bracelets became wildly popular in the early 2010s.
The bracelets were sold at Alex and Ani stores nationwide and via retail partners, including both chain stores and independent jewelers, with annual revenue totaling hundreds of millions of dollars.
Over time, the buzz around the bracelets faded and the company found itself saddled with debt related to its explosive growth, embroiled in legal battles, and grappling with constant turnover among its executive ranks.
Rafaelian left the company in 2020.
The pandemic hit the already struggling company particularly hard and Alex and Ani filed for Chapter 11 bankruptcy protection in June 2021 with hopes of finding a buyer.
None emerged and in September of that year a judge OK’ed a Chapter 11 reorganization plan under which private equity firm Lion Capital LLP purchased debt Alex and Ani owed to various banks and upped its stake in the company to 65 percent from 59 percent.
A company called the Bathing Club LLC bought the remaining 35 percent of the company.
MajorsAug 09, 2022
Signet to Buy Blue Nile in $360M Deal
MajorsJun 11, 2021
Alex and Ani Files for Bankruptcy More on Majors
The Latest
Events & AwardsOct 29, 2025
October Brings Little Change to Consumer Confidence Consumers are feeling more optimistic about their present situation while the short-term future remains a little scary.
Events & AwardsOct 29, 2025
Couture Partners With Time to WatchesThe company, which organizes a watch show in Geneva every spring, will bring a selection of watch brands to the 2026 Couture show in Vegas.
TrendsOct 29, 2025
Beth Bernstein Releases Vintage Jewelry Guide“The Modern Guide to Vintage Jewellery” follows the evolution of jewelry design from the ‘30s to the ‘80s with buying and styling advice.
EditorsOct 29, 2025
Why Creepy, Crawly Bugs Inspire Beautiful JewelryFor her annual Halloween story, Senior Editor Lenore Fedow explores the symbolism behind spiders, beetles, and other eerie insects.
Weekly QuizOct 16, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsOct 28, 2025
Meet the 2026 Gem Award NomineesNotable jewelry designers, members of the press, and retailers are up for an award at next year’s gala.
Recorded WebinarsOct 28, 2025
Watch: The State of the Jewelry Industry Leaders from Jewelers of America and National Jeweler discuss the gold price, tariffs, and more in this one-hour webinar.
Brought to you by
DESERT DIAMONDS: The Newest Trend in Natural Diamond JewelryFrom sunlit whites to smoky whiskeys, introduce your clients to extraordinary diamonds in colors as unique as their love.
CollectionsOct 28, 2025
Eriness Reflects on Life in ‘One of One’ CollectionAfter experiencing motherhood, growth, and loss, founder and designer Erin Sachse has created 10 irreplaceable jewels.
AuctionsOct 27, 2025
Napoleon Left This Brooch Behind, And Now It’s Up For AuctionIt is part of Sotheby’s “Royal & Noble Jewels” sale along with an ornate hair ornament and an old mine-cut light pink diamond ring.
CrimeOct 27, 2025
Arrests Made in Louvre Jewel Heist One of the individuals was apprehended at the airport as he was trying to flee the country.
Events & AwardsOct 27, 2025
Hill Management Group Hired to Help Atlanta Jewelry ShowHill Management Group will oversee, market, and produce next year’s spring show.
AuctionsOct 24, 2025
Bonhams Under New Ownership, Top Executives ReplacedLondon-based investment firm Pemberton Asset Management acquired the auction house for an undisclosed amount.
GradingOct 24, 2025
DMIA to Hold Diamond Testing Instrument DemoThe workshop will give attendees the chance to try out and ask questions about three different diamond verification instruments.
CrimeOct 24, 2025
Video Emerges of Louvre Jewelry Robbers Fleeing the Scene The footage shows two of the jewelry heist suspects descending from the second floor of the museum and then escaping via scooter.
CollectionsOct 24, 2025
Piece of the Week: Wyld Box Jewelry’s ‘Ray of Light’ EarringsFounder and designer Rosanna Fiedler looked to a vintage Cartier clutch when designing the sunlight-inspired drop earrings.
FinancialsOct 23, 2025
Jewelry Sales Resilient Despite Struggles at LVMH, KeringThe luxury conglomerates faced a challenging Q3 amid geopolitical and economic tensions.
SourcingOct 23, 2025
Petra Diamonds Turns to Shareholders to Raise Capital The struggling diamond mining company, which owns the historic Cullinan mine, has launched a rights issue to raise about $25 million.
WatchesOct 23, 2025
‘Million Dollar Hip Hop Watches’ Recounts Watch HistoryThe book details the journey of watches as symbols of hard-earned success in hip-hop for artists like 2Pac, Jay-Z, and more.
AuctionsOct 23, 2025
Freeman’s | Hindman Names New VP, Senior Specialist for Jewelry & WatchesAlexis Vourvoulis, who most recently worked at Tiffany & Co., brings more than two decades of jewelry experience to her new role.
TrendsOct 22, 2025
The Taylor Swift Effect: Antique Diamonds EditionThe superstar’s August engagement put the stamp of approval on an already hot engagement ring trend.
TrendsOct 22, 2025
Don’t Forget These Diamond Jewelry Trends When Stocking for the HolidaysRetailers should offer classic styles with a twist that are a perfect fit for layered looks, experts say.
AuctionsOct 22, 2025
Pink Diamond, Vanderbilt Jewels to Headline Phillips’ Geneva AuctionThe nearly 7-carat fancy vivid purplish pink diamond could sell for around $9 million.
SourcingOct 22, 2025
In ‘Storied Diamond,’ Jared Jewelers Is Emphasizing the Journey The retailer’s new collection of engagement rings and fashion jewelry is set with natural diamonds that are traceable via blockchain.
CollectionsOct 22, 2025
Tiffany & Co.’s ‘Bird on a Rock’ Finds New PerchChief Artistic Officer Nathalie Verdeille has reimagined the iconic design in both figurative and abstract creations.
Events & AwardsOct 22, 2025
JFC Kicks Off Halloween Costume ChallengeFive dollars buys one vote toward an industry professional you want to see dressed up as a hero, or a villain, this Halloween.
Events & AwardsOct 22, 2025
Hillsborough Antique Show Gets New OwnerRecently acquired by KIL Promotions, the November edition of the public show in San Mateo, California, will be held Nov. 7-9.
